Developer Tony Rufo of Rufo Properties met with the Lower Moyamensing community recently to unveil his plans to transform a vacant, sad-sack former brush factory into a loft-style apartment complex at 12th and Jackson Street. Much like with a good massage from Austin Powers, it's all about lower, baby. Original plans from December had the number of units at 172. Soon thereafter, it was lowered to 164. The plan has been lowered yet again to the tune of 151 one- and two-bedroom units ranging from 500 to 1,000 square feet in size and monthly rents between $800 to $1,800. Of course, that is if Rufo Properties can get the financing to fund the project. The Passyunk Post reports that Rufo's lawyer brought up financing multiple times, quoting him as saying, "Banks are tight. You've all heard the story." That doesn't sound too reassuring.
Given that it's a large project, the neighborhood had concerns about parking. Here's what The Passyunk Post found out:
The main concern at the meeting last night, naturally, was parking. Developers showed that there would be up to 62 spots for cars, plus parking for motorcycles, scooters and bikes. Car-sharing spots will also be available. The project is set to go before the ZBA on September 10th. Should the banks become, um, untight, the project could be completed in 12 to 16 months.
· Developer lowers number of apartments in proposed Artisan Lofts at 12th and Jackson [Passyunk Post]