Developers plan to begin work by early April on a
3-acre complex of condominiums and shops on South Boulevard.
"We expect to start building the parking
deck for the project within the next 30 days," said David Furman of
Boulevard Centro.
That's good news for South End supporters, some
of whom feared the city's decision in February to delay full-time trolley
service for at least a year might slow projects planned along the line
from uptown.
Furman, who announced plans in September to
develop The Village of Southend, had hoped to launch the project by late
2002. Time required to get all the pieces in place for construction, not
the trolley setback, affected Furman's timetable most, he said.
"We now have the (building) permits in place
and the financing organized," Furman said. Also, he said,
negotiations are nearing completion with general contractor Carocon Corp.
Light-rail transit probably will have more impact
on the Village of Southend than trolley service, he said. The south
transit line, a 10-mile light-rail link from uptown to near Pineville,
will parallel South Boulevard. Trains are expected to start running on it
in 2006.
The $27.5 million, 175,000-square-foot village
will include 115 residential units and a 144-space parking deck across
from SouthEnd Brewery.
Boulevard Centro plans four
"communities," each featuring different designs, sizes and price
ranges. Each community faces one of the streets bounding the village:
South Boulevard, Magnolia Avenue, McDonald Avenue and Euclid Avenue.
Condos will range from 545 to 1,134 square feet
and sell for $89,000 to $198,000.
Furman said Boulevard Centro, which has marketed
the project heavily for six months, has contracts on 45 condos and
reservations on several more.
If construction starts as anticipated, he said,
the first residential condos should be ready for occupancy in about a
year.
As part of the project, Crosland plans to
renovate an 8,000-square-foot 1940s industrial building across McDonald
Avenue from the village and add about 6,000 square feet, including a
mezzanine. It will be leased as office space.
Eric Vargosko, vice president of Crosland's
office and industrial division, said the project probably would start in
conjunction with Boulevard Centro's this spring and be finished in about
five months.
Also, Crosland's retail division is handling
sales of commercial condos on the ground level of The Village of
Southend's residential complex.
Furman said about half the 15,000 square feet of
commercial condo space has been sold.
Boulevard Centro's Elizabeth Phares is in charge
of residential condo sales and marketing.
The Village of Southend is one of the largest
condo projects ever announced for the inner city.
Boulevard Centro's projects include Gateway Lofts
in Third Ward and Skyline Terrace and four others in First Ward.