The 400 block of Broadway will receive a boost in the form of 14 two-bedroom, two-bathroom condominiums, slated for completion by the early spring of 2018.
The development company Paducah Landing aims to redevelop the structures at 414 and 420 Broadway, best known for housing Jean's Department Store, into a condominium project dubbed The Residence.
Floor plans were displayed and brochures were on hand during an informational meet and greet at the 1857 Hotel on Thursday evening. The event was intended both to get the word out about the project and gauge interest in upscale living downtown.
"Downtown has a lot of potential, and I hope this whole area just gets this lift," project manager Jordan Hunt of Salt Lake City told the crowd of about 60 people.
"We don't want to stop with just the 14 condos and the two buildings; we want to move on and do a couple of others we've got in our sights. Hopefully there's enough interest to do that."
The project will feature an indoor parking garage, elevators, original brickwork and hardwood floors, and vaulted ceilings.
The firm is aiming to try to keep as much of the historic feel of the buildings as possible, Hunt said.
The first five condos are priced at $350,000 apiece. The asking price for the remainder is $390,000, Realtor Alberta Davis said. She encouraged those interested in purchasing one of the condos to contact her as soon as possible to take advantage of the reduced price and have a chance to customize the interiors.
Melinda Winchester, downtown development specialist and Main Street director, said the condos will be a positive development for downtown, especially considering their location in the 400 block, where many structures have been sitting vacant.
"It really takes a firm that has the vision and experience to develop (414 and 420 Broadway)," she said, noting the difficulty that comes with renovating older, larger buildings. "There's a lot of history in those buildings."
Condo pre-sales have begun, and interested parties may contact Davis at 270-217-4362. More information is available at paducahlanding.com.
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