Mercer Phase III Townhomes are currently in the design development phase. Selective interior demolition and stabilization will be underway by the end of the month for 14 Mercer, and site preparation on the adjacent vacant lots will commence by mid-September.
3CDC has been successful in securing federal New Markets Tax Credit (NMTC) allocations to meet the project’s funding requirements. With the necessary funding now in place, predevelopment work on the project will continue.
City Gospel Mission kicked off construction on its new 63,000-square-foot campus at 1805 Dalton Avenue this month. Fundraising is still ongoing for the $14 million facility, which is expected to be completed in summer 2015.
Construction is now complete on Phase II of Mercer Commons, which includes 37 market-rate apartments, 30 affordable apartments, and nearly 11,000 SF of commercial space. Of the seven commercial spaces, two are now occupied, and two have LOIs signed with leases being negotiated. Additionally, 32 of the market-rate apartments and nine of the affordable units are now leased.
Construction on the eight condos and single-family home that comprise the Tea Company Townhomes is now complete. Two of the condos are already under contract. Pricing and other listing information for the remaining units is now available at www.OTRLiving.com.
Build-out is underway on a new bar concept for the street-level commercial space, to be revealed this Fall.
Mass demolition is well underway at the new facility’s future site on Dalton Street. Further demolition and site work will continue in preparation for full construction to begin in September.
Concrete construction has now reached the roof. Construction on the north core elevator shaft has reached level eight, while work on the south core elevator shaft is now complete. Concrete pours for the building’s columns have reached level nine in the northern half, and have been completed in the southern half. The concrete parking garage stairs have been poured and cured up to levels four and three in the south and north cores, respectively. The concrete slab is complete to level eight throughout the building, and to level nine in the southern half. Mechanical, electrical and plumbing installations continue on all finished site levels – both above and below grade. Setting of the building façade panels remains ongoing, while exterior glazing for the façade has begun. Work on the interior of the building has started, including the hanging of drywall on level one and the installation of waterproofing on the lower levels.
Sixteen of 33 Westfalen II units have been sold or are under contract. The remaining 17 units, which vary in size from studios to two-bedroom units, feature shared outdoor space, and some offer private balconies. Pricing and other listing information for the remaining units is available at www.OTRLiving.com.
3CDC staff expects to obtain full project financing by the end of August, at which point construction will begin. The project is estimated to be completed in spring 2015.
3CDC has started the renovation of 1201 Walnut Street with RJ Beischel Building Co. The ground floor will be home to a new restaurant and other commercial and retail tenants. The upper floors will provide new office space in the neighborhood, including the future home of 3CDC’s new office. Construction is scheduled to be completed in late fall 2014.