With nearly 20 units already sold, and four of those moving last week, developers Sam Cummings of Second Story Properties, John Green of Elevation Group, and RSC and Associates are nearing their goal of pre-selling 50% of the upscale condominiums proposed for the former YMCA building.
The renovation design of the nine-story structure at 27 Library Street NE originally accommodated 56 condominiums, but that number has been scaled back to 45.
“Right now we’re at a stage where we’ve had clients come to us and combine units,” said John Green. “We’ve even provided flexibility with buyers to redesign units to meet their needs, so at this point of pre-construction we have a lot of flexibility in what we do.”
Prices range from $210,000 to $650,000, with an average price of approximately $350,000 for a 1,200-square-foot two-bedroom, two-bath home.
“We anticipate that we will begin construction in January, possibly February,” Green said. “The total construction period is approximately 12 months, so we would be moving residents in by January or February of 2008.”
Planned amenities include a rooftop garden with Jacuzzi, landscaping, a fountain, and barbecue grills, a fitness center, a library lounge, and indoor parking for residents.
So who’s buying?
“When we originally got into this, we thought it’d be mostly empty nesters,” Green said. “But we are getting young professionals who would prefer not to be in a fraternity-oriented living environment and want to enjoy the peace and quiet, single professionals, married couples—we’re getting a variety of people.”
Green said they may be pursuing LEED (Leadership in Energy and Environmental Design) certification for the renovation, and are applying green building principles throughout the design.
Source: John Green, Elevation Group
www.justelevate.com
www.thefitzgeraldresidences.com
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