New Owner Moving Forward with Italian Village Project
A plan to build a 14-unit residential development at the southwest corner of East Fifth Avenue and North Fourth Street is moving forward.
A new ownership team brought the project back to the Italian Village Commission last month with some minor tweaks to the design. Those changes were approved, and construction on the project is now scheduled to start this month.
Jay DeVore, CEO of DEV, said that he and his partners saw an opportunity to jump onto the project after an informal discussion with the previous developers, a group that had been working on the project since first proposing a brewpub and townhomes for the site 2016.
“We made an offer for the project and site, and they’ve been really good to work with,” said DeVore. “We thought the design was great, we just brought some fresh eyes to it…we changed the interior configuration and modified some of the existing walls.”
DeVore is partnering with SHYFT Collective, a full service real estate firm that will serve as both co-developer and builder of the project. Behal Sampson Dietz, the architecture firm that produced the previous iteration of the design, was retained to make the latest changes.
The development will feature 14 for-sale units, ranging from 850 to 1,700 square feet, with a price point likely in the $300,000 range, according to DeVore.