A Joyful Noise
A mighty racket coming from this Park Avenue building indicates that a plan to construct eight apartments on the second floor is in full swing. Work is also going on in retail space on the ground floor.The building is one of many purchased by Paramount Property Management in recent years. Quite a few remain vacant, as business owners fled when the rent tripled under the new ownership. But things are happening at this location and at 110 East Fifth Street, where an old building is being renovated for retail and office space. Anyone walking along Cleveland Avenue to the main train station can hear proof of the changes being wrought there behind a curtain of blue tarpaulins.
Will these projects have a happy ending? Recent articles on Connolly Properties indicate a 40 percent vacancy rate for apartments owned by the city's largest residential rental property owner, and there is a glut of vacant office space downtown. Meanwhile, the noise of construction is music to the ears, when so many land use applications have been approved only to remain fallow.
--Bernice Paglia
posted by Bernice at 1:29 AM
1 Comments:
Dont get too excited yet. The work is not done and we havent seen anything open yet other than the carpet store which regretably just closed and the new, yet another, dollar store that is soon to open. If that is the only types of stores we can attract, we may as well leave them empty. Lets hope the apts will be better than the Connoly type we are used to seeing. They wont have parking, but maybe they will at least maintain them to quality standards for our residents.
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