2 ms·
I worked in that building years ago a couple floors above the highest step on the west side. My office had an awesome view of the surrounding area. The building
by doodlebugging 2y ago
I worked in that building years ago a couple floors above the highest step on the west side. My office had an awesome view of the surrounding area. The building has its own attached parking garage easily accessible from two side streets. It's a really attractive building.
I think an owner wouldn't need to refurb the whole building as residential. They could choose to reconfigure the top 5-10 floors as condos and make a killing.
The building has always had strong tenants and reasonably high occupancy. I don't know enough about the office space situation in FtW today but the whole sale for 10% of the previous sale price sounds really suspicious.
This wouldn't be the first mixed residential/retail repurpose in FtW as the old Montgomery Wards headquarters building was completely transformed into mixed condo/retail configuration 15-20 years ago and it is a cornerstone property along 7th street. It was part of the whole transformation of 7th to an entertainment/residential district. Today that area is a big residential-restaurant-nightlife attraction and young professionals moved there for the easy access to downtown and that night life. It gets rowdy out there on weekends.
This Burnett building is farther east by a couple miles or so from there.
There is local experience for conversions like this and FtW is full of old and new money so I wouldn't be surprised to see someone step in and transform it.