Business Excellence Awards
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By PBN Staff
With the formal announcement last week of a $7 million plan to rehabilitate the historic Arcade building and turn it into a mixed-use complex of shops and “micro-loft” apartments, Evan Granoff becomes the latest developer to try and turn the 1828 landmark into a fully-used modern structure.
The plan calls for the first floor to include stores and restaurants, much as the most recent incarnation of the Arcade did.
However, the twist on this plan calls for the second- and third-story spaces, formerly small retail shops, to be turned into 220- to 270-square-foot furnished apartments, starting at $550 per month and targeted at recent college graduates and young professionals.
Do you think this plan will work?