Long-Stalled Project in Olde Towne East Now Under Construction
Preliminary construction work has begun at 122 Parsons Ave., a vacant lot in Olde Towne East that has seen numerous development proposals over the years.
The latest concept calls for a four-story building that will hold 78 apartments, a first-floor parking garage, and about 1,900 square feet of retail space.
The project, which was first proposed in April of 2016, is being developed by a team that includes Kohr Royer Griffith (KRG) and Metropolitan Holdings.
A previous plan for the one-acre site called for 40 units spread over three separate buildings. That concept, which was proposed by a different developer, did not include a retail element.
A website marketing the project features updated renderings and points toward an opening in the fall of 2019. The name of the new building – The Yardley – appears to be an homage to the Yardley Screen & Weatherstrip Company, which once occupied the site, according to a 1913 city directory.
Update (10/9/18): A representative of KRG said that the projected rent for one-bedroom units in the project will likely be between $1,100 and $1,650 per month, while the two-bedroom units will be range from about $1,700 to just over $2,000.
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