Tuesday, December 23, 2008

Ford Plaza Renovation Greenlit

Some rare good news on the residential front: The redevelopment of the Ford Plaza Apartments has been approved to receive $900,000 in TIF assistance as part of an $11.5 million plan that will include 39 rental apartments and first-floor retail.

Peter George's Blue Shutters Development will be taking on the renovation of the 14-story high-rise; work is expected to begin in the spring and take approximately one year.

Montgomery Bank, which took over ownership from Matt Burghoff this past summer, will be financing the project.

The Ford should make a nice bookend for the Park Pacific project that's currently underway two blocks to the east. The two buildings are separated by a one-block park that is slated to receive improvements soon.

1 comment:

Anonymous said...

NMTC equity provided by US Bank CDC.