This Nonlinear solution involved eliminating the two obstacles that were preventing redevelopment of a large complex of historic loft buildings, by “cloaking” the ugly interior service alley, while converting the existing low-rent lessees to project assets.
Renovate a historic, formerly industrial, brick and timber, multi-story loft complex covering an entire city block.
Most of the buildings’ interior space overlooked an ugly service alley, and a significant portion of the most valuable space facing the surrounding streets was leased to very low rent tenants. These two obstacles had prevented redevelopment.
The interior alley was converted to a glass-covered pedestrian retail arcade, while the low-rent street-front tenants – multiple art galleries – were retained to give the project its character; luxury residential lofts were developed for the upper floors, and historic tax credits applied to achieve financial feasibility. ($20 million project)