Development
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I reported in January that 607 Market Street (AKA The U.S. Bank Building, AKA The Crystal) was under contract to LawlerWood, LLC. That sale was finalized recently and plans for the building to be converted to new residential homes for sale will begin very soon. Previously office space, built in 1985 and updated in 2004, the building no longer meets modern expectations for office space. The public bathrooms, for example, are in stairwells and are only accessible via stairs. I recently toured the building with Joe Petre and Ben Petre, two of the partners in the LLC, to learn specifics about the plans.
U.S. Bank will continue to utilize their ground-floor space with a separate entry leading into the bank. The main entrance into the building from Market Street will serve residents, as well as a handy side door onto Clinch providing a close connection to the French Market which will (happily) remain in operation at its current location. “We’re very fortunate they are staying.” This side door also sits directly across the street from 413 Clinch, a 52-space (currently public) parking lot. It has recently been purchased by Home Federal Bank (it is adjacent to the much larger lot they have owned for many years) and will be leased to the new residents at 607 Market Street for parking. Home Federal is providing financing for the project and Joe and Ben said they have been great to work with. Residents may lease a dedicated space in the lot if they choose.
The other ground-floor plan of note is that the space previously occupied by the Lunch Box will become the office and center of amenities for residents. Included in that will be mailboxes, package delivery, club room, and a fitness center for residents. During construction the space will serve for staging materials, reducing interference for sidewalk traffic…