Thursday, December 27, 2007

New Life for 1711 Locust

1711 Locust (left) and the Dragon Trading Building at 1709 Locust (right)

Sam Koplar has purchased the 7,500 sf former electrical substation at 1711 Locust, with plans for a restaurant or event space. The sale price was $385,000.

Next door, the four-story, 60,000 sf Dragon Trading Building was sold to New York real estate developers Cyrus and Darius Sakhai in 2006 for $1.8 million. The Sakhais had planned on converting the building into 36-40 rental lofts, with first-floor retail space.

Nothing has materialized there yet, but if/when both of these projects get off the ground, it will help strengthen the Locust corridor, which includes the Terra Cotta, Printers Lofts and the upcoming Leather Trades Lofts to the east and the Motor Lofts, the Tap Room and Jim Edmonds' restaurant, F15teen, to the west.

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