Tuesday, December 22, 2009

Ballpark Lofts Update




The Business Journal recently provided a brief update on Blue Urban’s Ballpark Lofts #9 project in Cupples Station.

The $43 million development was originally slated to house first floor retail, the offices of Osborn & Barr (which is temporarily located in Blue Urban’s Ballpark Lofts #8 building), and 54 loft condos, which the firm claimed to have entirely reserved back in 2008.

However, Kevin McGowan, president of Blue Urban, told the Business Journal that he is still working with lenders to get financing in place for the project and that the condos will now likely be apartments instead.

Also still on the drawing board for Blue Urban is the $47 million Ballpark Lofts #7 development, which was originally slated for 120 rental apartments.

2 comments:

Anonymous said...

I would love to see this building developed. Wish the city would put a greater priority on this.

Matt Kastner said...

I remember when they took deposits on these condos. People went mad over them. At the time, condo financing was still a cinch for buyers. With nearly total reservation and a great location, I don't see how McGowan couldn't have gotten funding. I guess this all was going down during the breakup of the company so maybe that is a partial explanation.