Eyesore to Luxury condos: Plans for a new Arena district condo complex unveiled
Nationwide Realty Thursday announced plans to turn an Arena District Eyesore into a new 20-story condominium tower and complex Officials say the development was inspired by the success of similar downtown developments.
Nationwide Realty Investments plans to renovate the currently empty A&P warehouse on the corner of Neil Avenue and Spring Street. The firm will turn it into luxury condos.
The developer also plans to build a 20-story tower, which will connect to the old warehouse.
Construction is set to start March 1. Crews first will trim 16 feet off the southern most side of the warehouse which will house 21 loft-style condominiums. A 20-story glass tower will then be built in the existing parking lot and attached to the warehouse, bringing the total number of housing units to 109.
The luxury condos will range in price from $300,000 to $1,000,000, but Nationwide Investments chief operating officer Brian Ellis says the high prices won't drive away prospective buyers
Nationwide Investments originally planned to lease it as office space, but plans changed last year. Ellis says the decision was due in part to the success of Burnham Square, another set of Arena District condos developed by Nationwide. Ellis says the fast sale of those units spurred Nationwide into tapping even further into the market
Ellis says the two-bedroom condos located in the warehouse will be completed by the first quarter of next year, and the two- and three-bedroom condos in the new tower will be available a few months later.