The 1221 Broadway Project was the first major residential development in the long-neglected, formerly industrial neighborhood of River North. The project’s proximity to the two-mile (3.2 km) extension of the Riverwalk and the city’s commitment to revitalizing this ragged edge of downtown were key reasons AREA Real Estate purchased the abandoned project. Developer David Adelman recognized that the Riverwalk would be a major draw for the project’s primary target market—young professionals and empty nesters. “Our residents are renters by choice who are seeking a healthy lifestyle,” he says.

Located 1.5 miles (2.4 km) north of downtown, 1221 Broadway is an adaptive use of a housing development that initially failed during construction in 2007. Occupying three blocks, 1221 Broadway transformed the abandoned concrete superstructure into a four-story structure offering 307 apartments and 10,000 square feet (930 sq m) of ground-floor office space.

Developer:
Area Real Estate

Design Team:
Lake/Flato Architects, O’neill Conrad Oppelt Architects Inc. (Architect of Record)

Lender:
HUD 221(D)(4) Loan secured through Rockhall Funding

Wellness Features:
Fitness Centers; Pools; Bike Repair Station; Courtyards; Outdoor staircases; Access to daylight

Source:
http://bhptoolkit.uli.org/