The Schwartz Building, which is located at 906 Main St., is soon to become apartments. Black Iron Capital LLC, an affiliate of Levine Properties LLC, purchased the nearly 100-year-old building at a sheriff’s sale earlier this year for $446,000.
Black Iron plans to spend about $500,000 renovating four of the five floors of office space into 20 apartments. There will also be 6,705 square feet of first floor retail space available for rent.
The five-story building will be completely renovated, and will be
LEED Silver certified when finished. The City approved a Community Reinvestment Area LEED tax exemption for the project, which will save Black Iron more than $100,000.
Restoration will repair the building’s terrazzo floors in the entryway, and stainless steel appliances and granite countertops will be installed in each apartment.
The Schwartz will house 16 two-bedroom, two-bathroom apartments and four three-bedroom, two-bathroom units that will range from about 900 square feet to 1,300 square feet. Rental rates are still to be determined.
Construction began late September, and apartments could be available as soon as May 2014.
By Caitlin Koenig
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