A partnership consisting of the new owners of the Sycamore Square Apartments and local developer Andy Burnett is proposing to build a five-story, $23.4 million apartment complex at the southeast corner of NW 4 and Shartel.
The downtown property is the last undeveloped section left of the original Sycamore Square super-block, which was cleared by Urban Renewal in the 1970s. Only Sycamore Square Apartments and Sycamore Square Condominiums were built in the center section of the property (in the early 1980s), leaving large swaths of empty land on the east and west sections of the super-block.
The proposal submitted Monday was the only response to a request for development proposals issued by the Urban Renewal Authority. Dubbed “700 West,” the complex is to offer 72 efficiency units, 120 one-bedroom units, 28 two-bedroom units, and 15 live/work units.
“The live/work units are an opportunity for us to create an artists’ theme, something for artists, architects and start-ups to live above their work space,” Burnett said. “Traditional retail hasn’t done well in some of the standard downtown housing properties. So we’re trying to create a good storefront feel with good interaction with the street for artists, architects and start-ups where they can live upstairs. We’re trying to cater to the creative crowd.”
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The live/work units are an opportunity for us to create an artists’ theme, something for artists, architects and start-ups to live above their work space.”