The proposed project includes the renovation and adaptive reuse of a portion of the Pierce Arrow complex.  The historic warehouse is 95,000 sq. ft. and eligible for historic tax

credits and is currently under review by the State Historic Parks office.  When complete, the building will house 72 1 & 2 bedroom apartments.  One bedroom apartments are planned to be in the 700 sq. ft. to 1,100 sq. ft. range and two bedroom apartments will range in size from 1,100 sq. ft. to 1,450 sq. ft.  Rents for the one bedroom apartments will average between $882 - $1,386.  Rents for the two bedroom apartments will  average between $1,386 and $2,000.

Approximately 3,000 sq. ft. of space will be marked to an amenity-based tenant.  Parking for approximately 100 cars will be made available at the exterior of the property.

Additional landscaping and new paving along the exterior of the building will increase the overall aesthetic of the dilapidated structure and the surrounding areas.

The project requires an extensive level of upgrades to an underutilized building that has never been used for residential purposes.

 10/25/2017 - $15,285,000 Lease/Leaseback Inducement Resolution approved by ECIDA Board of Directors