"RedPeak has invested almost $80 million into this projectthrough private-investment initiatives without the need for anypublic funds," says Mike Zoellner, president of RedPeak. "This isvery unique in today's world. We have always viewed this propertyas an historical reference for the Downtown skyline."

A number of development plans were created while the buildingsat vacant for more than 10 years, including several for luxuryhotels, but none of them materialized. RedPeak acquired thebuilding two years ago.

The apartments at 1600 Glenarm Place range from 609 sf for astudio to 1,835 sf for a penthouse. Rental rates begin at $920 fora studio and top $6,000 per month for a penthouse. Units includeslab granite counters, frameless glass showers, soaking tubs,hardwood floors, gas fireplaces, stainless steel appliances,washers and dryers, cherry or maple cabinetry and built in terracegrills.