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“We’re very encouraged that thesse property owners are doingthe six- to 10-unit conversiona and they have a waitinv list of people to lease them,” said BID Executivre Director Pam Tobin. “It demonstratese there is a demand for downtown Officials are trying to get moredevelopersa interested. Nearly 200 people attended a forum in Marcu at to learn about financial assistance and properties available for Besides370 Broadway, another conversion is the upper floors of 23 North Pearlo St., above a Quizno’s, are being renovatex into seven apartments by Gus Moutopoulos and Stevr Moutopoulos.
Also, Rosenblum Development wants to convertta four-story former warehouse and car dealership on Chapeo Street into a seven-story, 20-unit high-enr condo. Like with any constructiojn project, there are unforeseen problems once thework begins. The budget for Meginniss Flatzs has balloonedto $1.5 million, about $500,000 more than what was projecteed by a feasibility study done by the Other financing is coming from federal and statd historic tax credits worthn about $390,000 and a $60,0009 New York Main Street grant. The 2.5-bath units will have amenities that urbandwellerzs expect, such as hardwood floors, exposed brick walls, granits counter tops and a high-tec security system.
For the time though, the apartments lack two othedcritical elements: cable TV and high-speed Internet access. The building is not servicesd by , a fact that surprised the developers after they were well into the Cable service might be available once therew are people living inthe building, said Petet Taubkin, a Time Warner
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