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W. Utica Site Going Rental

 A West Utica residential project which was to feature 14 high-end condominiums has been redesigned for 16 apartments plus commercial space.  A two-building townhouse-style stacked apartment project is now being planned for the 301-311 W. Utica Street site.  FJF Development, consisting of contractor Paul Johnson, attorney Michael Ferdman and architect Karl Frizlen, is behind the proposal.

For-sale units priced from $224,900 to over $500,000 proved to be a tough sell on busy W. Utica Street.  A cooling economy and credit crunch did not help either.  Buyers had reportedly signed contracts for three of the condos, half of what was necessary to begin construction.  Unable to secure a construction loan for the project, the team is switching gears.

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The new plan calls for a two-building, 16 unit apartment project.  Each residence will be two bedrooms with approximately 1,000 sq.ft. of living space and private garages.  A small commercial or retail space is also planned.  The developers are seeking IDA assistance to help finance the project. 

The Utica relaunch comes as Frizlen and Ferdman, working with Krog Development, are reading a nearby site for redevelopment.  Asbestos removal is underway in order to demolish the former KFC restaurant at the corner of Elmwood and Bryant.  A three-story commercial and residential building anchored by Coffee Culture is planned.

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Previous proposal for the site, Elmwood Village Condos

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