Kress Square lofts
The "Kress block" has been assembled by the Doran Jason Group which plans to construct a 147,900 sq.ft., mixed-use (office, retail, residential) development, Kress Square, utilizing the existing historic buildings.
A development agreement has been approved and a $4.5 million HUD 108 loan has been applied for by the City to assist in the $20 million development.
The residential segment will consist of 10 loft apartments in the Newberry Building and 48 lofts in the Kress. Twenty-five percent of lofts would be "affordable housing" ($551-$651/month.) Restaurants, retail and offices would employ 385 people.
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