Developers broke ground on the long-awaited Columbus Park Townhomes project on Pacific Street Friday morning, despite the rain.
The project is led by DAK Pacific LLC and Wardell & Holmes Real Estate. Last year, the project received a 10-year property tax abatement for both construction components to support the site after 20 years of vacancy.
Each 1,900-square foot townhouse will include three bedrooms, three bathrooms, and a two car garage. The development offers a 75% tax abatement to buyers.
There will also be one-bedroom apartments for rent on the site, which will offer surface parking. Other amenities and perks include private balconies, stainless-steel appliances, electric vehicle charging, additional storage space, low homeowners association fees and green space for residents.
Developers boast an eye-catching modern design with sleek finishes throughout the kitchen and entertainment spaces, complete with all electric, energy efficient, stainless-steel appliances.
“We’re excited, it’s the first major construction we’ve had in 13 years, and it’s since I’ve lived here the only development that’s been suggested on this parcel, so we feel pretty lucky right now,” said Kate Barsotti, Columbus Park Neighborhood Council president.
She said the developers have been very easy to work with, reaching out to neighbors early on.
“It’s a small team so we feel pretty good about them,” Barsotti said.
Although the price of the townhomes has been criticized, Barsotti said people need to realize that the cost of living has increased, and that developers are now required to do a great deal of city infrastructure – meaning things like new water and sewer lines – which is a cost that gets passed on.
“The reality is, we’re looking at these projects, inflation has increased across the board and I don’t see it going down,” Barsotti said. “And the level of infrastructure on infill projects is substantial. So we’re very excited about this project that they took on, but I think people maybe need to realize we’re in a new normal right now… You’re not going to see much infill at a cheaper price and a high quality with the amount of infrastructure work they’re going to do.”
The townhomes are listed at $665,000 for pre-constructions sale, and apartments will rent for $1,500 per month. Project leaders anticipate a summer 2024 completion.