We told you about plans for a new mixed-use building at 7th & Kater a little over a year ago, generally pleased that a more productive use would be soon be coming to this corner. This property was a large garage at the time, and had been used to house a catering operation for many years. We'd have to assume that the building was originally used for some automotive purpose, but we couldn't tell you for sure. And it's not terribly important at this juncture, as the building is now gone for good. In contrast to the situation with the former Please Touch Museum, the loss of this building actually makes us kinda happy.
The project includes ground-floor retail with four apartments above, and has progressed nicely, as you might expect. The new building is fully framed, with many windows installed. We'd bet that some interior construction has taken place, but there's still plenty of work to be done. We aren't sure whether these units are going to be rentals or condos, either one would make sense at this location.
MSC Retail is listing the retail space for lease, and put together a spiffy brochure for interested parties. The 2,000 sqft space would seem like a natural fit for a restaurant, with Nomad Pizza and the Good King Tavern on opposing corners luring customers down from South Street. MSC also provides a rendering to see just what we can expect when the construction finishes.
As we said previously, we're all kinds of excited about the new life that will soon come to this corner. And it's safe to assume that some future neighbors are keeping a careful eye on this property as well. A reminder, a residential project called Bedford Estates is under construction across the street, immediately to the south, on the site of a former surface parking lot. Those seven homes will range in size from 3,500 to 4,000 sqft, and were listed at over $1M earlier this year, pre-construction. As the months roll by, we'd assume that the prices will climb.
We wonder if the new construction at 7th & Kater is spurring additional interest in the Bedford Estates project. Along those lines, news of the tenant for the large retail space could potentially impact some decisions from buyers in the future. The right tenant could make the homes far more attractive to buyers, and the wrong tenant would probably have the opposite effect. What's it gonna be?