Condos Now to Be Apartments - Construction Resumes at Midtown Lofts
The Tacoma News Tribune reports this morning that work has resumed at the Midtown Lofts on 11th and Fawcett (story here). The resurrection of the project was made possible by a private financing arrangement, despite a host of the kinds of financial hurdles that are all too familiar in recent years. Originally conceived as a condominium project, this development will now be managed as apartments.
According to the story, the rental units will be 750 to 2,200 square feet and will cost between $850 and $2,200/mo. They will be ready for occupancy in the summer.
This sure has been a relatively busy week for downtown development news already.
7 comments
J Jesse January 5, 2011
Perhaps other developers can study this to see how it “pencils”. I think if there were more apartments downtown, they’d fill up.
R RR Anderson January 5, 2011
yeah inexpensive apartments probably wont stay M.T. for long. heh.
E Erik B. January 5, 2011
Great to see it get going. Downtown Tacoma needs a ton more market rate affordable apartments in downtown Tacoma. The best would be studio and one bedroom apartments.
A blight on the City of Tacoma is just about to be a big benefit. Good job Midtown Lofts in pulling out of the death spiral!
C crenshaw sepulveda January 6, 2011
You know what I’m going to write so I’ll not bother.
M Mofo from the Hood January 6, 2011
There’s a growing mass of vacant buildings around Tacoma. The anticipation for the future is intense.
Then I read a story like this and I just feel like leaving town.
M Mofo from the Hood January 6, 2011
Midtown Lofts:
Location, Location, Location
MOVE-IN SPECIAL
Sign a 1-year lease @ $2200. per month and get a 1-year lease @ $2200. per month.
O offbroadway January 7, 2011
@6
BN!!! I!!!