Amid welcome news about hotel incarnations, an arts avenue and plans for a condo tower next to the Straz Center in downtown, it was heartening to hear something about the Channel District–other than subplots surrounding Channelside Bay Plaza ownership and baseball-stadium speculation.
It looks like residential construction is resuming, which makes sense. Given the trends in reurbanization and walkable communities, it was only a matter of time now that the economy is stabilizing. Rental demand is surging. Specifically, plans are afoot for a 24-story, 316-unit apartment tower on two Meridian Avenue acres. The property, called The Martin, would take up half a city block and include a two-story retail space (36,000 square feet) that could conceivably accommodate–dare we say–an urban grocery store.
Moreover, the developer of the $60-million project is Ken Stoltenberg, no stranger to the Channel District real estate scene. He was the go-to guy for the nearby Grand Central at Kennedy condo complex. The Martin’s design would emulate the art deco-esque style of the Grand Central.
Stoltenberg, who had to put Martin (condo) plans from 2006 on hold till the market returned, gets it. Beyond a developer’s basic bottom line. He gets enlightened self interest–that which makes the Channel District, not just his individual project, attractive to modern urbanites. The Grand Central also houses the Stageworks Theatre and the uber popular Powerhouse Gym.