Changes are being made to Two25 Commons, the mixed-use development proposed by Kaufman Development and the Daimler Group for the corner of Third and Rich streets downtown. When plans for the building were first announced in March of last year, it was to be 17 stories, with 20,000 square feet of ground floor retail, five floors of office space, and 11 stories of apartments and condominiums.
Kaufman Development CEO Brett Kaufman confirmed that the team is now looking at a 12-story building, with a reduced residential component.
“We are moving in the direction of a 12-story product, which was always an option,” he said, adding that “we presented both versions originally.”
“Inflationary construction costs and the economics of high rise construction” are the primary drivers of the change, Kaufman said.
As for a timeline for the development, the goal now is to break ground in the fall.
“We are still in the process of working with prospective tenants and designing the project,” Kaufman said, adding that the design will not vary greatly from the one presented last year. “We look forward to being back in front of the Downtown Commission as soon as we are far enough along.”
A 12-story building would match Kaufman and Daimler’s other nearby project, 250 High, which is nearly complete and filling up with office and residential tenants, as well as the new restaurant Salt and Pine on the first floor.
For more information, visit www.two25commons.com.