By: Deborah Johnson Wood
Four commercial condos and four residential condos are on the market in a historic area of Wealthy Street that’s enjoying an economic resurgence. The two-story buildings at 632 and 636 Wealthy are about 100 yards east of the Wealthy Street Bakery and feature four storefronts on the main levels, topped with four residential condos on the second floor.
“There are not many commercial spaces where the business owners can actually own the storefront,” says Ryan Ogle of Maksor Realty. Ogle and his business partner Rachael Veldkamp are marketing the condominiums.
“It’s a chance to be in a small business district along a main drag that’s up and coming,” Ogle adds.
The developer, Todd Ponstein, plans to replace the windows to historic specifications, remove exterior paint to re-expose the brick on the west side, and add wood siding and crown molding to the other three exterior walls.
Inside, the 1,000-square-foot spaces will have as many original construction elements as can be saved, which could include hardwood floors, brick walls, and tin ceilings.
“This project gets people into a residential condo in a neighborhood that is walking distance from downtown,” Ogle says.
Removing a non-historic addition on the rear of the buildings creates parking space. Each unit comes with a deeded space and an option for one more.
The commercial condos will run about $150,000, residential will start at $130,000.
Developer Todd Ponstein plans to break ground within the next 30 days with an October completion date.
Source: Ryan Ogle, Maksor Realty
Photo by Brian Kelly
Deborah Johnson Wood is the development news editor for Rapid Growth Media. She can be contacted at [email protected].
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