Jump to content

New Condo

gah

By gah
in Columbus

Recommended Posts


  • Replies 75
  • Created
  • Last Reply
  • 2 weeks later...
  • 2 months later...
ATLman1 Hamlet

ATLman1

Posted
Posted

Picking up the pace

Progress on lofts more evident in coming months

Update:

Overview: The former textile mill on Front Avenue is being turned into a mix of condominiums, retail space, restaurants, cafes and offices. The $50 million-plus project will take at least a decade to complete.

Details: The first phase includes 93 condos ranging in square footage from 689 feet (one bedroom) to 2,528 feet (three-bedroom penthouse). Prices start at $169,000 and top $500,000. Residents will begin moving into the units in spring 2008.

Amenities: The mill complex and condos will include riverfront and downtown skyline views; direct access to the Riverwalk, 14-foot ceilings with exposed timbers; industrial-sized windows; 20-plus floor plans; exercise room; on-site parking garage; one-acre landscaped park overlooking the Chattahoochee River; limited access to condos; street-level restaurants and retail within the project; outdoor plaza and improved streetscape.

The paint removal is winding up and bricks are being replaced, but more visible action on converting the Eagle & Phenix mill into loft apartments and retail/office space is about to begin.

"For the last several months you haven't seen a whole lot of progress because there's a lot of stuff going on inside with the guts of the building," Mat Swift, president of the W.C. Bradley Co.'s real estate division, said Wednesday.

"But over the next two months, we'll start the process of installing over 450 windows, and then putting on a new roof, building the parking garage. That's when it's going to look like a scurry of activity."

The 10-year, $50-million project began in March 2005 when W.C. Bradley began tearing down portions of the former textile mill. The Columbus-based company purchased the mid-1800s-era Eagle & Phenix and the 16 acres on which it sits from the now-defunct Pillowtex Corp. in 2004.

Renovation work on the southern most five-story mill structure so far has included stabilizing the footings, removing paint from bricks, punching out bricked-in windows and grading land. Swift said the company actually had to buy 200,000 new bricks to replace old ones that had deteriorated.

"We're having to point up with new mortar to make sure that it's waterproof and everything," he said. "A lot of that stuff people don't see."

The first building will have 93 loft apartments, with 40 interested buyers already putting down 1 percent of the purchase price to hold them. It's a refundable fee. But the company has stopped taking reservations, Swift said, until early 2008 so the units will be more fully developed for prospects to see. The first units should be ready for residents by April or May of 2008.

"Over the next month or so we're going to be trying to convert those reservations to contracts and we feel pretty good that most of them will," he said.

The price tag for the apartments range from $169,000 for one-bedroom units to more than $500,000 for three bedrooms with a view of the Chattahoochee River.

Paint removal and stabilization should begin on the second large mill structure north of the current project within a month, Swift said. The large water tower is to remain, with cleaning and repainting of it a few months away.

Demolition of non-historic buildings north of the 13th Street bridge already has begun. Long-term plans call for office buildings, high-rise condominiums, restaurants, plazas, parks and the Riverwalk in that area. A grocery store also is a possibility somewhere on the Eagle & Phenix property.

"We're slow playing the retail because we want to make sure we get the residential situated first," Swift said. "We think once we have 93 families living in those units the retail and the restaurants and those things follow pretty easily."

Link to comment
Share on other sites
gah Whistle-Stop

gah

Posted
  • Author
Posted

Thanx for update. Had been concerned about apparent lack of progress -- especially since the Phenixian and Phenix Rising projects seem to be stalled for the foreseeable future. Now appears that E&P will have the condo market to itself for a while. That may not be a bad thing. Will give the E&P time to fully develop and sell out, rather than having a glut of condos at same time which -- if unsold -- could depress the market for future developments. By time E&P maxs out, hopefully the problems with the Phenixian and Phenix Rising will have been work out and those projects will be successful.

I find particularly interesting the info about the area between the new and old bridges. That is a terrific site -- the logical place for a highrise building. Lets hope that whatever goes there, the architecture is compatible with the existing buildings AND is a grade (or more) above the ho-hum (if not downright ugly) appearance of the AFLAC Tower and Government Building.

Link to comment
Share on other sites
  • 1 month later...
  • 3 weeks later...
  • 4 weeks later...
aboutmetro Hamlet

aboutmetro

Posted
Posted
That would be 2WR/Andras, I believe. A really good innovative firm. Design should be very cool. The Phenixian is being designed by Hecht Burdeshaw (disclaimer: have close personal connection with HB) which is a more traditional firm. So the contrast between the two should be dramatic. I am also looking forward to seeing elevations. I cant help but wonder whether the lack of elevations to date signifies that "new" condo (for lack of a name) is waiting until Phenixian is underway so that it can then announce that it is going to be slightly taller. Wishful thinking on my part maybe, but I can dream! What I am also looking forward to is a mock up of what the DT Columbus skyline will look like when the two new condos get built.
Link to comment
Share on other sites
Zumthor Unincorporated Area

Zumthor

Posted
Posted
<br />The firm does do some more interesting looks, much more interesting - in my opinion - than the 'staggered window' look that Hecth wanted to leave as his legacy in local architecture. But, 2WR was advised about the cooling issues in facing that big glass wall west and did it anyway...! Looks good, but not practical.<br />
Link to comment
Share on other sites
  • 2 months later...
gah Whistle-Stop

gah

Posted
  • Author
Posted

I was in town last weekend and took a look at the project -- it is coming along but seems to be really really slow going. Appears to be months of work left. Any word /rumors on opening date and possible announcement of retail for lower floor?

I also saw that there was still demo work going on on the adjoining property between the 13th and 14th St bridges. I know that Matt Swift said that that area was slated for longterm development -- but I am wondering if there might be something afoot on a more immediate timeframe. Any idea whether the work is pre-construction and not just demo? Seems curious as to why demo work is being done now, rather than later when plans for development finalized. It is THE premier location in DT right along river, next to TSYS. If and when something does go in there, it should be a real jewel.

I am still hearing negative rumors about Phenixian condo. I realize that the PC powers-that-be are all making happy talk about ground breaking as soon as the Triangle sale is done and Troy State starts on its building. But behind the scenes there is talk that the condo is becoming a iffy proposition and may well not come off -- at least not in the form that it was represented/announced initially. Anyone else hearing these negative comments about that condo project?

Link to comment
Share on other sites
  • 1 month later...
mitchella81 Whistle-Stop

mitchella81

Posted
Posted

Good News for the Eagle and Phenix condo's downtown. The first tenants will be moving into June. So far the development is 35% sold. Also WRBL reported that WC Bradley is in negotations with several national resturants to locate in the condo. One of those showing some strong intrest is Joes Crab Shack. If the deal goes through Joes Crab Shack would be great bringing a brand new style of resturant into the downtown area.

Link to comment
Share on other sites
ATLman1 Hamlet

ATLman1

Posted
Posted
Good News for the Eagle and Phenix condo's downtown. The first tenants will be moving into June. So far the development is 35% sold. Also WRBL reported that WC Bradley is in negotations with several national resturants to locate in the condo. One of those showing some strong intrest is Joes Crab Shack. If the deal goes through Joes Crab Shack would be great bringing a brand new style of resturant into the downtown area.
Link to comment
Share on other sites
  • 3 months later...
catdr Unincorporated Area

catdr

Posted
Posted

Eagle/Phinix condos

About 30+ units are about to be released for sale. Two demo units on the 2nd floor are furnished. Some units will be occupied at end of June/first of July.

Finishing schedule is floors 2 & 3 - soon. floor 4 - Sept. - Nov.

Link to comment
Share on other sites
aboutmetro Hamlet

aboutmetro

Posted
Posted
<br /><br /><br />

I am confused. Are you talking about the proposed Phenix Rising on the riverfront? The face of the building with the bulk of the glass faces east not west. (the billboard shows both sides of the proposed building the western side is very different from the east.)

Link to comment
Share on other sites
  • 5 weeks later...
  • 2 weeks later...
  • 2 months later...
  • 4 weeks later...

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.