Apparently the hinted at development plan hinted at over the past couple of months does not involve the vast swaths of open space on the east side of the railroad tracks. Instead, the plan, as I have heard it, is to temporarily relocate 710 Bookstore and Varsity South Barber Shop, currently the only two tenants in the building, raze the structure, and rebuild it. 710 and, presumably, Varsity South, would then move back in to the space.
The new building would be a mixed use structure, with retail space once again housing 710 Bookstore and Varsity South Barber Shop on the first floor and apartments/offices on the second.
It's a good idea if it goes through as I have heard it planned as the development would bring some much needed additional apartment space to downtown and certainly help with bringing more retailers to the area.
The new building would be a mixed use structure, with retail space once again housing 710 Bookstore and Varsity South Barber Shop on the first floor and apartments/offices on the second.
It's a good idea if it goes through as I have heard it planned as the development would bring some much needed additional apartment space to downtown and certainly help with bringing more retailers to the area.
I have to disagree with most of your analysis. The retail space will be going at twice the going rate of downtown Carbondale, $30+ a foot, plus occupant build out. There will be no parking in the area, the 500 tenants will eat it up. The other high end residential projects around Carbondale (The Reserve), are no where near 100% full.
ReplyDeleteIf the population of SIU were to go back up, I'm sure this project would be great. Fairly certain, it isn't needed at current levels.
The problem will be in 5 or 10 years, if they can't keep it full, they will not maintain it. They you will have a 4 or 5 story building, that is a huge problem on "Main St."
It is OK with me, not my money. But, I wouldn't be hot on putting my money in either. Lots of signs that the low interest rates have seen high end student apartments overbuilt in Carbondale.
It's not what I would have done either, esp given that we have so much empty space in downtown. However, they are betting their own money and moving more bodies into downtown would certainly help business there. Hopefully they have done analysis that proves both of us wrong.
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