Apartment developer Christopher Piazza has closed on financing for
a $1.2-million renovation of a 1914 apartment building in Irvington. The 31-unit Audubon Court (shown here, and currently
vacant) soon will feature restored hardwood floors, clawfoot tubs, LCD wall-mounted TVs, porches and courtyards, along with
a 24 hour fitness studio, laundry room and garage parking. The project, slated to begin Dec. 15, is being financed by Symphony
Bank and Greensfork Township State Bank, which has agreed to acquire Symphony. The building is near Irvington Public Library
and a Starbucks coffee shop. Rates will range from $600 for a one-bedroom to $1,100 for a three-bedroom unit. Piazza and a
partner are launching a new company, Whistler Piazza Developers, to build the project. His existing company, Reverie Estates,
will manage the completed property. Piazza, a 2005 graduate of IU's Kelley School of Business, also offered an update on his
planned downtown renovation of the Penn Arts building: Legal work is
underway for a December closing on the construction loan.
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Welcome to Property Lines, Indy's source for neighborhood real estate news. Your host is Scott Olson, IBJ's real estate beat
reporter. Edited by Cory Schouten.
Apartment developer Christopher Piazza has closed on financing for
a $1.2-million renovation of a 1914 apartment building in Irvington. The 31-unit Audubon Court (shown here, and currently
vacant) soon will feature restored hardwood floors, clawfoot tubs, LCD wall-mounted TVs, porches and courtyards, along with
a 24 hour fitness studio, laundry room and garage parking. The project, slated to begin Dec. 15, is being financed by Symphony
Bank and Greensfork Township State Bank, which has agreed to acquire Symphony. The building is near Irvington Public Library
and a Starbucks coffee shop. Rates will range from $600 for a one-bedroom to $1,100 for a three-bedroom unit. Piazza and a
partner are launching a new company, Whistler Piazza Developers, to build the project. His existing company, Reverie Estates,
will manage the completed property. Piazza, a 2005 graduate of IU's Kelley School of Business, also offered an update on his
planned downtown renovation of the Penn Arts building: Legal work is
underway for a December closing on the construction loan.
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First, the Athenaeum is going to have to get past the hurdle with the Lockerbie residents and the agreement that the parcel would be residential. Second, and in my opinion, this prime piece of property should include parking, PLUS, a black box theater(s), some market rate and affordable artist housing and a plan to renovate and reconfigure the second story theater. I would negotiate to add the DeHaan property surface parking lot into the development mix, place a one story surface parking garage on the DeHaan lot on the street level (for the Dehaan tenants use during the daytime) and add a second story to the garage that would become an addition to the current second story theater and then change the direction of the theater by moving the stage across the alley and on top of the DeHaan lot parking. You can add all the stage elements that are currently missing from the Athenaeum stage to make it more attractive for use by Ballet, Opera and traveling productions. Plus, the theater changes would probably help solve some of the soundproofing issues. Alas,it does not seem to be a part of the strategic plan to conduct a study to determine best use of the property. Seems like the current plan is a quick and easy move that ignores the property best use/potential and any strategic property planning for the effect on future generations.
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I recall that MSA's pilings are still in the ground and hard to remove. It’s not likely any proposal will include significant underground construction/parking because of this. Start adding 2 floors of retail, 8 floors of parking and 5-10 floors of possible hotel, and/or 10-20 floors of residential, and you are at 30 floors already with possible expansion of all the uses. But then again I could be wrong.
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Accoriding to their website there is no deadline to the Do Not Call list. What is this article referring to??
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On what planet are they entitled to this largesse from the stockholders? These people make multi-million dollar salaries: Pay for your own personal travel.
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It matters because they're already paid enormously fat salaries: Pay for your own personal travel. Being "taxed on it" isn't a valid excuse--so what? They're still being gifted a raft of luxury perks from somebody else's money on top of an enormous, lavish salary.
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Building, and now this, Christopher is becoming a Real Estate mogul
in Irvington. With the properties in such close proximation, it should
make it easier to manage them.
After some false starts on the Audobon, this guy looks like he's for real.
Young, excited and eager to rehab older gems. I am proud to have him
working in my neighborhood.
GO PIAZZA AND GO IRVINGTON!!!!!
There's going to be a lot more federal funding made availiable for public infrastructure with the Obama admistration and Democratic controlled Congress.
Irvington is looking great these days. You can go to Starbucks or Lazy Daze for coffee and browse Bookmamas for nice used books. Now they only need more BYOB locations...
http://www.irvingtondevelopment.org/irvington/properties/audubon_court
Thanks for the resource though that will benefit us all - not just us speculators
Hopefully no harm no foul on my part.
Where is northsider from? Sious Falls, SOuth Dakota. Not a big city person are we?
And I do hate to whine and nitpick, but you're bored and going to Clay Terrace? What an exciting life we live! Wooo...slow down there fella'.
The future apartments look great. It's really turning into a neat area... it is too bad that Irvington is surrounded by some not-so-stellar areas but the local IPS elementary school made national new for it's new concept--parents and students promising to take responsibility for their education!
For the schooled folks out there... and that would be the majority that has blogged POSITIVE things about the Irvington area... CUDOS for investing in a truly beautiful area of downtown. A ghost town it seemed for a time, I am so happy to see the younger generations taking a sincere interest in our communities.
It truly does mean something to the human spirit when you SINCERELY take an interest in creating for the betterment!
SALUTE!