With the financing closing for the $21 million rehab of the Leather Trades Lofts, current downtown development totals more than half a billion dollars going into the new year.
Dominium Development and Acquisition’s restoration of the vacant eight-story building at 1604 Locust St., a former Pyramid Cos. property, builds on a $504.7 million construction boom that kicked off earlier this year. Minneapolis-based Dominium wants to transform the Leather Trades Lofts into 86 apartment units catering to urban artists within 10 months, according to Jeffrey Huggett, vice president and project partner for Dominium.