Residential Real Estate and Condominiums and Urban development and Development/Redevelopment and Historic Preservation and Real Estate & Retail

Construction under way on downtown condo conversion

November 14, 2009

Construction has finally begun on a condo conversion of a historic five-story downtown building known as The Shelton.

The 1926 building is getting a $3 million makeover. (IBJ Photo/Cory Schouten)

A loan for the roughly $3 million project fell through last year, but developer Klaus Wittern recently secured financing from Merchants Bank of Indiana, formerly known as Symphony Bank. Plans for the 1926 building on Delaware Street between St. Clair and Ninth streets call for 16 condo units with hardwood floors, granite countertops, tiled showers and stainless-steel appliances.

 

They will range from $130,000 for 650-square-foot units to the mid-$200,000s for units larger than 1,000 square feet. The first should be available by March, and completion is scheduled for May. The building originally contained 50 apartment units and was designed by an apprentice of Frank Lloyd Wright. Keystone Construction is the general contractor.

 

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