Aside from the 14 apartment units, the space also contains thousands of square feet for retail/commercial uses. Four spaces have already been leased, one to an engineer's office, two to boutiques, and another to an art studio. Gomez says that most of the apartment units have also been leased. One-bedroom units rent for $600, a two-bedroom unit for $800, and a three-bedroom unit rents for “about $1,000,” according to Gomez. For an extra $50 a month, renters can reserve a parking space in an adjacent lot.
The total renovation cost Gomez around $1.5 Million. Housing has been an element largely missing from downtown revitalization, and interest in this project could spark additional development nearby.
|Plan Presented to City Council for The Mix|
September 2011 El Paso Times article introducing the project*: http://www.elpasotimes.com/business/ci_18919070
*Please note: El Paso Times articles are available for a limited time online before they are archived.