2 Developers Selected for Marina Lofts, Condos
Two local developers were chosen Friday to begin negotiations to build 67 apartments in the Marina redevelopment area, including 27 loft units expected to appeal to artists.
Mountain to Sea Developers and Development Cycles were selected from among six that submitted proposals to Centre City Development Corp., according to CCDC spokeswoman Kathy Kalland. The selection must still be approved by the City Council.
When the projects are completed, the number of new condominium and housing units in the redevelopment area or next to it will be about 1,600, Kalland said. The latest projects are an indication that the area is continuing to grow, she said.
Development Cycles will build 40 one- and two-bedroom units on 10,000 square feet of land at 4th Avenue and Island Street. The five-story building is expected to cost $2.9 million and will be called Marina Court.
Mountain to Sea Developers will build 27 loft-style units on 20,000 square feet of land next to Marina Court. The units will be one large room with high ceilings, a small kitchen and a bathroom. They will range in size from 650 to 800 square feet.
The units are expected to be leased by artists or other professionals, a company spokesman said, adding that such lofts have been a big success in San Francisco, New York, Chicago and elsewhere.
