by Ken Walker
Cold Coffee
August 3, 2008
The New York Times editorializes the closing of the Starbucks at Market and Broad, citing its opening eight years ago as “a herald of the city’s resurgence.”
…Joe Hallinan, regional vice president, says the branch has actually been losing money. Now that the company has hit tough times, he says, there is no alternative but to include the outlet among the 600 that the company will close.
Perhaps. But the area shows strong signs of growth. A luxury apartment building is almost filled, and construction is about to begin on a new residential loft building. The recently opened arena, the Prudential Center, is bringing people in on nights and weekends.
What loft is he talking about? Which street? I’m in this area alot, and I don’t see any type of residential loft about to be constructed.
I’m pretty sure he’s referring to Eleven80.
eleven80rentals.com
No he’s not. He already mentioned that: “A luxury apartment building is almost filled,…” And Eleven80 isn’t a loft building. Plus it’s already done.
It could be referring to a number of on-the-planner projects. There’s a residential building slated for where the Lincoln was, another is being talked about for the Westinghouse site, and Cogswell (I believe) owns the rights to develop the Griffith/Hahne’s properties, and wants to make them into apartments or condos. That’s the same company that converted Eleven80 into residential.
The building in question is the Richardson building lofts on Columbia street.
The next big residential move in Downtown will be Dranoff Properties’ project at NJPAC. Larry Goodman has been planning this development for years. It will cover one of the surface parking lots across from NJPAC. Dranoff has done some interesting projects in Philadelphia and Camden.
“The building in question is the Richardson building lofts on Columbia street.”
Which has nothing to do with the CBD on Broad St. between Raymond Blvd and Clinton St. Even if Starbucks was open, people wouldn’t even go there unless they worked in that exact area.