Wednesday, November 11, 2009

Arcade Building in Need of a Developer

The city's Land Clearance for Redevelopment Authority has taken the first steps toward helping make the vacant Arcade Building more attractive to developers by declaring the building blighted and authorizing 10-year tax abatement.

The Arcade, along with The Alexa (aka the Chemical Building), are the last two remaining undeveloped buildings in the Old Post Office District. It is one of the few Pyramid-owned buildings still owned by Pyramid and a critical component to downtown's ongoing renaissance.

While Pyramid was marketing The Arcade as condos, I would like to see the building's next developers include a larger percentage of office space to help increase the Old Post Office District's daytime population.

1 comment:

Anonymous said...

maybe they should consider St. Louis??
http://www.wbbm780.com/High-costs-drive-major-trade-show-out-of-Chicago/5660124