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

5 comments:

  1. This is great news for the ongoing downtown redevelopment process! as some people insisted that the new downtown ballpark was not going to attract any new development.
    TJ Karam is on the roll and I hope that these new High-Rise apartments become a reality.

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    1. I totally agree Lonesome! The NaySayers were and have been wrong every time. I still would love to see a 24 story apartment with a 6 story garage for a total of 30 stories and 360 feet.

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    2. Now wouldn't that be nice! a 24 story apartment with a 6 story garage 30 stories 360 feet! Back in the early 1980's there was such a project planed at Prospect and Yandell,North of I-10. It was to be called AVIANCA Tower! and was to be a 25 story tall condominium and El Paso's tallest building. But it never got built! Then again in the late 1980's another development project was proposed for that same property. This time it was suppose to be a 14 story glass tower office building! Once again that project fell through because city council then voted against a zoning change,so now that vacant property sits there just waiting for something good to happen. Chances are better now because before there was this anti growth neighborhood activist by the name of John Carr, RIP!, he opposed both projects and was totally against the El Paso Community College Rio Grande Campus from further acquiring more property to expand the campus. Well times are different now and El Paso needs to start building Up! You are absolutely Right Mr Benjamin Rivas! The Naysayers have (always been wrong every time) AMEN! When we voted last year in November for the Quality of Life Bond Issues! I know that it was the final nail in their coffin, But even today you can hear them cry just like the Llorona crying from her grave! El Paso Times Editorial.

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  2. Was the deal officially declined?

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