Not many residential developers would "embrace" an industrial block dominated by a flour milling plant with a new condo project.

But for David Furman, president of Charlotte's Boulevard Centro, this is a lot more than a challenge; it's a mission.

He plans to develop 32-unit Silo Urban Lofts in Fourth Ward at West 10th and North Smith streets in the shadow of ADM Milling Co.'s complex of grain storage elevators.

"We've tried to embrace the plant's silos as an industrial icon and make them part of the architectural aesthetic of our building," said Furman, who also is an architect.

"I think this project defines our Boulevard Centro company more than anything we've done. It's very urban, very adventuresome in its style and very affordable."

Prices start in the $70,000s for a compact 533-square-foot loft. Only a couple of larger end units will sell for more than $100,000.

"We think there is a piece of the housing market willing to sacrifice square footage for a unique living environment close to the urban core," Furman said.

Catherine Mitchell, who is in charge of project sales for Boulevard Centro, said buyers should be able to get into a condo for $650 a month or less based on current mortgage rates.

Furman has designed apartment and condo projects throughout the Charlotte area and the East Coast. Uptown, he has spearheaded much of the new development under way in First Ward, Fourth Ward and Third Ward, where his 52-unit Gateway Lofts project is preparing to welcome its first condo owners.

About 7,500 people live inside the Interstate 277 loop, but Furman believes many potential buyers - especially the young people who contribute so much to the center-city's after-hours vitality - are being priced out of the uptown market.

And, he said, that's a void Boulevard Centro hopes to fill with trendy projects like Silo Urban Lofts in what he describes as "the back corner" of Fourth Ward.

Furman has filed to rezone the nearly half-acre site from industrial to mixed use, and he says Charlotte-Mecklenburg planners endorse his concept.

Neighbors seem pleased, too.

The lofts will add more diversity to Fourth Ward, whose housing ranges from 100-year-old Victorian homes to $1-million condos, said banker Jim Palermo, who represents the Friends of Fourth Ward and Charlotte Center City Partners.

Said Rob Walsh, president of Charlotte Center City Partners: "I salute David Furman. He's pushing the envelope."

The area where Boulevard Centro is developing the lofts has been a sore point with Fourth Ward residents. They've complained in the past about noise at the plant, which mills flour for baking.

Furman believes that comes with the territory in a urban environment, and, if he could have his way, he said, he would string lights on the grain elevators and make them even more a part of his condominium project.

The four-story condo building features what Furman describes as a "funky" industrial look with corrugated metal siding, splashy red bays and concrete blocks on the exterior.

Inside, lofts will have 10-foot ceilings, "tons of glass," stained concrete floors, computer niches and scaled-down appliances to fit the compact living space, he said.

Essentially, a loft at Silo is a big, open room with a bathroom, a storage closet and a six-foot-high floating partition separating the sleeping "zone" from the living/dining zone.

Eight penthouses have ceilings as high as 13 feet. Large windows offer views of the Saint Mark's Circle School playground and the uptown skyline.

Furman said the commercial space on the ground floor of the building will be sold as offices, studios and shops in blocks of about 500 square feet. Prices for that space start in the $60,000s.