Kelsey Gardens Breaks Deep Freeze
Really for real! (Lydia DePillis)
You may well choose to believe it when you see it, but the word is that Metropolitan Development has finally pulled together the financing it needs to demolish the old Kelsey Gardens apartment complex on 7th Street and begin work on Addison Square, starting in the third quarter of next year–putting them only a year and a half behind schedule. The buildings won't be razed until then because of liability issues, but security lighting is expected to be installed any day now.
I haven't yet pinned down the nature of their financial breakthrough–earlier this year, they had been looking for a private partner (the listing has disappeared from Ideal Realty's site). Last we checked in, Metropolitan Development was trying its luck with the federal Department of Housing and Urban Development instead, helped with an updated tax abatement that went into effect this month and will expire next July.
More details as they emerge.
2:40 pm
This is great news for Shaw. Things are looking good in the hood!
4:19 pm
Appreciate the update...keep them coming...and as a long-time resident of Shaw I will choose to believe it when I see it...but if development at Kelsey Gardens and O Street Market really happen in 2011 it will be a very good year.
11:19 am
That's such a dark strip of 7th St, I hope the security lighting makes the sidewalk area super bright. They should really put up some better signage now that they have better financing, something big bold that peds, cyclists and folks in cars and buses can appreciate when they pass through the hood so they know that something nice is coming to replace the blight.