Meinders' acquisition is part of a string of land property transactions and developments turning Deep Deuce into downtown's leading mixed-use neighborhood.
The area was blighted and home to just a handful of boarded-up buildings a dozen years ago. But over the past few years, development has heated up with the addition of hundreds of apartments and dozens of for-sale condominiums, with restaurants and shops opening in the older buildings and newer developments.
Richard McKown, developer of Level Urban Apartments, saw the complex at NE 2 and Walnut Avenue open fully leased in July.
Construction since has begun on more apartments at NE 4 and Oklahoma Avenue, and more for-sale housing is being built as part of The Hill condominiums at NE 2 and Russell Perry Avenue.
An Aloft Hotel at NE 2 and Walnut, just east of Level, is set to open in mid-2013.
McKown, meanwhile, is planning development of a second apartment complex just west of Level, with designs set to be announced by summer.
“We're working very hard on the new project,” McKown said. “It will be a beautiful building. … Deep Deuce has reached a critical mass. People want to live down there. People have figured out it's a wonderful neighborhood. It's convenient to everything downtown, and there is an amazing sense of community.”