National City Bank is putting up financing for the 29-story building, where units ranging from 700 sf to 2,800 sf start at slightly less than $300,000.
The project's prime location in the Downtown's new East Side as well as a six-acre park that is part of its infrastructure are credited by president of Near North Properties Inc. president Jim Loewenberg for the strong pre-sale.
"This successful sales activity will allow us to begin construction this summer and we should be greeting the first residents of the building approximately 18 months from then, putting the first move-in date sometime in early 2005," says Magellan Development group VP of sales and marketing Robert Pontarelli.
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