The blocks west of Spring Street in Midtown were once cast-aside wasteland, by and large, relegated to parking lots and low-density development. But with land values soaring in the neighborhood, many of the interstate-bound properties are getting a second life.
What started as a trend around Tech Square has spread northward, and now a new office project and separate apartment development could soon fill the southwestern corner of the intersection of Spring and 14th streets.
Bisnow reports that Greenstone Properties—a firm focused on development in the suburbs for years—is hoping to construct a 10-story office block on half of a two-acre parking lot. If all pans out, a second developer will turn the other parcel into a 12-story apartment venture.
The projects would rise across the street from the new Midtown Whole Foods, which is currently under construction. According to a drawing of the potential massing on the site, the apartments and offices would share a single parking deck.
The developer sounds optimistic about launching the project, but there’s no indication as to when the 330 apartments, 250,000 square feet of office space, and 15,000 square feet of retail could deliver.