A four-story project has shrunk to three stories at Lake & James, a corner currently home to Calhoun Bike Rental and other tenants.
The “16Twenty” project by CPM Development would have offices and retail on the first and second floors, topped by five or six apartments — not condos as originally planned.
CPM co-founder Daniel Oberpriller said that given the “extraordinary” land price, they couldn’t finance a four-story building. Instead, the property owner will become a partner on the project and the building will lose a story.
The architects said they are not seeking a costly environmental LEED certification. Instead, they decided to focus the construction budget on quality materials.
“We think the best thing we can do is build a building that lasts 100 years,” said Gabriel Keller, principal of Peterssen/Keller Architecture.
Allan Amis, chair of East Isles’ Zoning & Land Use Committee, said he was glad to see a smaller project, as taller heights tend to snowball into larger-scale development nearby.
“That’s a big deal for us,” he said. “These things just kind of escalate. This is a big improvement.”
The design features glass on the first story, masonry on the second and metal paneling on the third. No leases are signed yet for two retail bays.
The project needs special city approval for 18 parking spots instead of the required 19; smaller than required setbacks along the north and east property lines; and the 38-40 foot height, which the city limits to 35 feet in the Shoreland Overlay District.
The project would have covered parking and no basement.