Condo project on track in Lakeview
A residential and retail project planned for Lakeview will go ahead as planned after the developers secured a loan. Dionysus Enterprises LLC and JFJ Development Co, the joint venture behind the project at 3030 N. Broadway St, received a loan for $18.9 million.
M&I Bank, a Milwaukee-based firm, and St. Louis-based First Bank agreed to provide the first financing for the project that is expected to cost $50 million for the first phase of construction.
Plans call for a five-story building, with nearly 50,000 square feet of retail space on the ground floor and four levels of luxury condominiums. A total of 53 units will be built during the first phase. The second phase of construction calls for an additional 35 condominiums in a four-story building.
Residents of 3030 Broadway will enjoy a number of luxury amenities, including huge private terraces with 400 square feet of space. Prices for these units will start in the mid $600s, with the largest units selling for more than $2 million. Completion of the first phase of construction is planned for late 2009.
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