4TH & RACE
The physical structure of the building is nearly complete, with just one more story to be added. Exterior finish work continues to progress, particularly on 4th Street. Inside the structure, crews are working on adding mechanical, electrical, and plumbing on levels 7-9, and drywall is going up on level 7.
Each building included in the Perseverance project is making progress. Stair towers at 1505 Vine are currently being built, while drywall is being hung in the upper floors at 1511 Vine, with storefront framing occurring at the same address. 1513-1515 Vine is undergoing electrical installation and drywall hanging is in the works at 1517 Vine Street.
Willkommen closed on financing at the end of July, completing a complicated process that required 13 different funding sources, including federal and state New Markets Tax Credits, federal and state Historic Tax Credits, Opportunity Zone investments, conventional debt, and City funding. With financing now closed, crews will immediately begin working on the construction of the scattered-site, mixed-use, mixed-income development.