The development is on Union Street and will bring commercial space on the ground floor and 45 new housing units downtown. There will be 20 apartments with one bedroom, 20 with two bedrooms, and five studio units. The building spans a total of 42,000 square feet.
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The project is on a vacant lot on the main cultural and commercial corridor of the downtown area. The developers are DW Capital and one Circle Co. with additional support from partners both private and public on the state and local levels.
Previously on the site was the Keystone building, which was built in 1861. It was a furniture store from 1914 through 1981. It partially collapsed in 2004 after years of neglect and was demolished soon thereafter.
Mayor Jon Mitchell said:
“Twenty-two years after the historic Keystone Building collapsed onto Union Street, the site will be reborn as a beautiful apartment building.”
He added that it will fill a major gap in the streetscape of downtown and offer new opportunities for housing for residents. He recognized Lauren Jezienicki, EO of One Circle, for securing the financing and taking on this important and complex project.
Construction of the building is expected to be completed in 18 months.