Indiana News Center’s Jeff Neumeyer is reporting that The Harrison, the condominium/retail portion of the Harrison Square project may be downsized again. Â This time, down to 17 condo units (down from an original 62 which was halved and now halved again) and one floor of retail making for a two floor building. Â Apparently, however, nothing is 100 per cent sure, these are only plans that are being drawn up. I don’t want to give many more details here as I don’t want to get it wrong. As soon as the story is posted on the INC website, I’ll post a link here and add an “UPDATED” tag to the end of the title.
From the posted article which includes the video and glimpses of the floor plans:
[…] Jim Irwin with Barry Real Estate out of Atlanta, says the artist renderings released are not set in stone, but are simply one option for how the condo project could unfold.
The developer effectively needs commitments on more than half the units before a bank will turn over a loan.
Coldwell Banker Roth Wehrly Graber, the local marketing firm, maintains it is getting very close to locking up enough commitments to approach a bank about a loan.
City Redevelopment Director Greg Leatherman says he has not seen the renderings that depict only one level of condominiums above a level of retail stores.
He acknowledges the brutal economy and lending environment, but he said, “We have not been presented with, nor accepted any design changes on the condominium project.”
He went on to say, “We will continue to insist on at least 14 and a half million dollars worth of private investment and a mix of retail and residential space.”