More student high rises?

[mgman]

This is somewhat old news in that it happened last week or the week before but Zaragon the company behind Zaragon place off South U. (on Church, Forest, East U.? I forget) has bought the bank building on Thompson and William. Currently the building sits vacant and is occasionally used by TCF as a training facility it is right next door to Cottage Inn and across the street from St. Mary's and Tower Plaza. Currently Zaragon has not said what will go there but the company thinks demand for student housing is still going unfilled. It is a great location only a block from Central Campus.

Here is the AA Business reviews story. There was also a blurb on it in the News.

Zaragon buys bank building

[wolverine]

There was a rendering for (possibly) this project and it was posted here in some obscure thread a year ago I think, unless that's an entirely different project. It was an ornate brick, 8-12 story building to rise on the vacated TCF site.

Zaragon is probably correct. I also heard that 411 lofts is filling up rather quickly, of course it was also very well marketed.

[tracer1138]

I walk by this building every single day. Too bad I'll probably be gone before they even break ground (if at all). Empty buildings can be such a big liability to companies who aren't in the real estate business as far as taxes are concerned, so I'm surprised it has sat there for as long as it has.

[wolverine]

It was actually in use the past few years as a training center. TCF really didn't do much to spruce it up. I think they figured it was a waste since it would probably be torn down anyway.

Although that massive overhang has been good to me. I recall one time being outside when a huge downpour of rain happened. Conveniently I was right by this building and sought shelter near the front entry.

At least they keep all the lights on at night.

[tracer1138]

I have no idea what gives specifically, but for a week now they've had the footings for the streetlights they took out covered and just in the past couple of days they (whoever they are - owners? developers? both?) have put up a chain link fence around the property. It looks like they're preparing for demolition.

[tracer1138]

The building is now mostly gone. All that's left is a roof supported by a few polls. Already that corner looks better!

[wolverine]

You can see now how the basement goes under the sidewalk. I don't think they'll be demolishing that wavy wall of block because it's helping support the common wall for Cottage Inn Pizza. I'm going to guess that will remain permanently and maybe covered up when the new building rises. I'm still trying to find the rendering.