Thursday, January 5, 2012
Update On 51st & Pearl
As I turned the corner at 51st & Pearl into town last night, I was struck again with how dark that area is after sunset. What was once a bustling commercial area now sits mostly vacant. It turns out at least some of the darkness is because there is no power to the main building that once housed Ruston Galleries.
I got an update from Melissa at Affinity Investments recently (the owners of the building). The 6 apartments above the retail area have been undergoing extensive remodeling for over a year. The power to the building should be back on any day now. The units were stripped down to the studs and rebuilt with everything new, including plumbing and power.
The current work is scheduled to be completed by the end of February. There will be four studio and two one-bedroom apartments. Melissa said rental rates haven't been established yet, but she should have those numbers available soon.
The retail space downstairs is not being remodeled yet. The owners are waiting for a new tenant to sign on and will redo the lower area to meet the needs of the new occupant. The retail space is being marketed by Brent Taynet of CBRE. His phone number is (253) 922-3900. Let's hope the building is soon filled with light and people once again!