Downtown developer Craig Wagoner is pressing forward with a three-story mixed-use property connected to the long-vacant College Station.
Wagoner – who has redeveloped at least 10 properties in the last 10 years, including The Lofts at Jordan Creek at National Avenue and Chestnut Expressway and the Yellow Bonnet building at 323 N. Patton Ave. – is looking now to build from the ground up at McDaniel Street and Campbell Avenue.
Wagoner is planning to build a development connected to the College Station parking garage through his development and management company Brentwood Management.
Doug Acklin, a property manager with Brentwood Management, said the company hoped to begin construction on College Station Lofts in December. He said the three-story structure would have commercial space on the first floor, and 20 apartment units on the second and third floors with direct access to the College Station parking garage.
“We’ll have free use of the parking garage. Our building will attach to the parking garage, and each floor will have an entrance,” Acklin said. “People will have the opportunity to not have to walk any steps, even if they live on the third floor.”
The quarter-acre site, which Acklin said was purchased from College Station developer Scott Tillman for an undisclosed amount, is currently fenced off at the corner of McDaniel and Campbell. The adjacent $12 million College Station development, which opened with anchor tenant Hollywood Theaters in the fall of 2008, has a history of vacancy. The nonprofit Hamels Foundation moved in its 2,400-square-foot College Station space in January, becoming the development’s first – and still only – tenant since the theater.
Springfield Building Development Services Director Chris Straw said the estimated construction cost on the 25,000-square-foot College Station Lofts project was $3 million, according to the developer’s building permit application. Acklin said rezoning was not necessary for the lot.
Brentwood Management is serving as general contractor, according to Acklin, and Butler, Rosenbury & Partners Inc. is the architect. The building should be complete by this summer, he said, noting Brentwood already has an undisclosed commercial party interested in leasing the first floor. He declined to disclose estimated lease rates.[[In-content Ad]]
