Flaherty & Collins Properties plans to build a sleek $81 million, 28-story skyscraper on part of the former home of Market Square Arena in what would be the tallest new downtown development since the 34-story JW Marriott hotel opened in 2011.
The city has agreed to contribute $17.8 million by investing property taxes generated from the project back into the development, which would break ground next spring and be completed by late 2015. The investment would require approval by the City-County Council.
IBJ reported Monday that Flaherty & Collins had been chosen from a field of five developers for the project.
The plan calls for 300 luxury apartments, 500 parking spaces and 43,600 square feet of ground-floor retail space. It would feature a rooftop pool, a green sky window on the tower roof, and apartments with floor-to-ceiling windows and panoramic views of the city renting for between $1,300 and $2,400 per month.
...
