Tuesday, October 29, 2013

Twelve-Story Apartment High-Rise Coming to Downtown El Paso

TJ Karam, partner at Bearing Development, has told KVIA that he and a group of investors plan to build a 11 1/2 to 12-story apartment building in Downtown El Paso about a block from the baseball stadium site. The first floor of the building will house a beer garden.
Future site of an apartment high-rise in Downtown El Paso. (Bearing Development)

The structure will be built at 533 West Franklin Street, less than 500 feet to the west of the future Triple-A ballpark, the site of the former Oscar's Laundry building which currently stands vacant. Bearing Development told the El Paso Times earlier this year that plans were in the works for 40 apartment units at that location, though the size of the building was not disclosed at the time.

Bearing Development changed the zoning from C-4 to C-5 earlier this year in order to allow for a high-rise. The small footprint requires building vertically to gain substantial square footage. Karam hopes to have the structure completed during the inaugural season for the El Paso team.

The development firm is also behind the effort to transform another Downtown building into an adaptive reuse building called The Savoy. The structure at the corner of Stanton Street and Overland Avenue will have 27 apartment and loft units on the upper floors, which are currently empty.

Read our story on the Savoy here: Aging Downtown Structure to See New Life as 27-Unit Apartment Bldg

Bearing Development website: www.bearingdevelopment.com/

KVIA story: http://www.kvia.com/news/downtown-ballpark-already-spurring-new-development/-/391068/22701540/-/fmyvcx/-/index.html