UPDATE: Here’s one important thing to note: the project does not yet have financing lined up. Another source who attended the meeting contacted us today to say that the lawyer on the project said several times, “if we get financing.” On another occasion, he said, “Banks are tight. You’ve all heard the stories.”
Also of note, the Lower Moyamensing Civic Association’s zoning chair has posted on the group’s Facebook page that it intends to support the project.
POSTED EARLIER: The developer for a new apartment complex called Artisan Lofts at 12th and Jackson, which would replace a dilapidated former brush factory, went before the Lower Moyamensing Civic Association last night to answer questions regarding the revised proposal.
Tony Rufo, of Rufo Properties, said his team had lowered the number of apartments from 164 to 151. That’s down a total of 21 units from the original 172 we heard back in December.
The apartments will be 1- and 2-bedroom units, costing between $800 to $1,800 a month. The size of each ranges from 500 to 1,000 square feet.