Thursday, July 16, 2009

Adler Lofts Back on Track

More good news for Downtown West: Bob Wood's Adler Lofts project at 2035 Washington Avenue has been approved for $5 million in New Markets Tax Credits. Money received from the tax credits will go toward helping Wood finish the stalled development, which will feature 26 apartments and 8,500 sf of retail space.

According to Wood, there are several parties interested in the space, and now that the tax credits have been awarded, he can finalize tenant negotiations.

He said he expected to close on financing within 90 days and start construction on the Adler this fall.

1 comment:

Mark Groth said...

Great news, this is a really cool building.