Augustine Development Group purchased the building—now designated a local Historic Landmark—in October 2019 for $3.7 million, with plans to invest more than $30 million in the redevelopment of the property. The developer plans to renovate the 18-story, 165,000 square foot building to include a 21,000-square-foot grocery store, 140 market-rate apartments and a 10,000 square foot rooftop restaurant, lounge and pool.
This historic redevelopment project is a recipient of the DIA’s Downtown Preservation and Revitalization Program (DPRP). Learn more about the program here: http://dia.coj.net/DPRP.
Investment: $30 million