Edgeville Buzz

Planned 6-Story Building On Granville Will Not Move Forward

Developers that were planning to build a six-story building on Granville Ave. have decided not to move forward with the project and have instead renovated the existing two-story structure on the property.

The planned new construction that was deigned by local architect Thom  Greene of Greene and Proppe Design was to add 10 two-bedroom and 10 one-bedroom units to the area. The complex was also to include 5,000 sq. ft. of retail space on the ground floor and basement for a possible restaurant.

Instead the developers, Rae Ann and Bob Cecrle, have renovated the existing building and it will remain nine studio and one 1-bedroom apartments on the second floor of the building. They will however continue looking for a restaurant to occupy the current 3,000 sq. ft. space on the first floor.

According to Rae Ann Cecrle, their decision to end the new development was two-fold. Firstly, they blame the uncertainty of the current economy and thought it could be a bad time to build. Secondly, they were hit with large overrides and tax consequences due to their recent other development at 1127 W. Granville as well as the acquisition of a multi-unit building at 1070 W. Granville. Both factors provided a level of risk that the developers concluded was too great.

“It was a risky thing,” said Rae Ann Cecrle. “Plus we were holding onto a property that we were paying taxes, insurance and expenses on and there was no income coming in.”

The remodeled units rent averaged out to around $850 which includes heat and gas. In fact, it took only 10 days to lease out all the apartments. The final resident at 1101 Granville will move in shortly.

“We decided to fix up the units and do a quick but good job,”Rae Ann Cecrle added. “They are not luxury apartments but they have all new kitchens, appliances and flooring as well as upgrading the electrical, new plumbing and general fixes.”

A laundry room was also added to the building and parking can be rented out at a lot next door. Cecrle added that half of the units were leased to grad students and the other half to area residents.

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