In March, 2016 STK Partners, LLC announced a $2.5 million mixed-use development at 26 Eldredge St. on the City’s North Side.STK Partners will transform multiple vacant and dilapidated structures into a new mixed-use development, including 7,500 square-feet of ground floor commercial space and market rate apartments with 49 beds appealing to students and young professionals. The apartments will feature an industrial theme with exposed brick, stainless steel appliances and granite countertops. The ground floor will be home to an organic farm-to-table café, lounge space and an industrial workshop offering entrepreneurs a space to develop projects and businesses. The project also incorporates several green development practices, such as comprehensive LED lighting and an eco-friendly parking lot. In partnering with City Hall, STK Partners is purchasing four public properties: 18 Eldredge St. — a portion of City’s Parks Dept. garage parcel; 21 Eldredge — vacant parcel; 22 Eldredge — the site of a vacant and blighted City-owned structure to be demolished as part of the development; 23 Eldredge — vacant parcel. The total cost of the properties is $13,700, which was determined by the City Assessor’s Office based on the market value of the property. STK Partners is also demolishing a second vacant building at 24 Eldredge St., a property it currently owns, to further reduce blight in the area.
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