Matthew Segal, 26-year-old son of noted architect-developer Jonathan Segal, now knows the pain of going it alone in the world of real estate development.
Last month he opened Postal Lofts, a three-unit, $1 million apartment project at 2692 C St. in Golden Hill – San Diego.
Developers and Mayor Rahm Emanuel held a groundbreaking ceremony Tuesday for the planned $45.6 million Shops and Lofts project here in the Bronzeville neighborhood.
The project, going up at 47th Street and Cottage Grove Avenue, includes a new five-story, 72-unit building with 55,000 sq. ft. of retail; two new six-flats; a new nine-flat; and a rehabilitated three-flat; along with parking for residents and visitors. A Wal-Mart Neighborhood Market will occupy most of the retail space, which is being developed by Skilken and TROY Enterprises. The Community Builders Inc. will develop the residential component, comprised of 44 affordable, 28 public housing and 24 market-rate apartments.
Ohio – Landmark Lofts, a proposed residential and retail development at Cemetery Road and Franklin Street, now is in the hands of Hilliard City Council after the city’s planning and zoning commission members March 14 unanimously approved a development plan for the project.
“This site will be a great asset to the city,” commission member Thomas Lyden said at the conclusion of a two-hour hearing for the case.
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FORT WAYNE – A plan to convert a historic building into downtown apartments has won the tax credits that will enable the project to go forward.
The Indiana Housing and Community Development Authority awarded the Randall Lofts apartments in downtown Fort Wayne nearly $675,000 annually for 10 years in rental housing tax credits. Carmel-based RealAmerica Development plans to convert the historic building at 616 S. Harrison St. into 44 one- and two-bedroom apartments.
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The team behind downtown’s new Cliffs Edge Lofts development in lynchburg, VA is raising a red flag over a shortage of reliable, long-term parking for downtown residents.
“These older buildings tend not to have parking lots, and parking is really critical,” developer Blair Godsey said.
Last year, Godsey and George Stanley, a Roanoke-based partnership, converted a circa-1910 shoe factory into the 52-unit Cliffs Edge Lofts on Commerce Street.
Parking was cobbled together from a mix of on-site spaces, street spaces and permits bought in off-site lots.
Now the team is planning for two other major downtown loft projects.
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The developer of the massive Marina Lofts mixed-use project is hopeful that construction on the $150-million development could begin next year.
The project, now before the City of Fort Lauderdale for approval, calls for 1,000 rental apartments and a mix of boutique shops and cafes that could help revitalize a blighted section along the south side of the New River here.
Developer Asi Cymbal touts his Marina Lofts project will be a dramatic addition to the skyline and draw international attention to Fort Lauderdale. He hopes to obtain approvals this spring, with the first of three phases opening in 2015.
The designer for the project is Danish architect Bjarke Ingels.
Fort Lauderdale Mayor Jack Seiler says that while the development could be iconic, he doesn’t want it overshadowing the New River and the riverfront and suggested to Cymbal that the project be scaled back some, according to the Fort Lauderdale Sun-Sentinel.
“It’s very unusual for Fort Lauderdale, kind of catchy,” Seiler says. “But I don’t think any building should overwhelm a property.”
Cymbal says he has listened to the concerns of city officials and residents and intends to reduce the size of two buildings from 36 stories to 28.