The team behind the renovation of the Tessier building on Lafayette Street downtown is planning a four story, 16-unit condominium development on a lot behind the building.
Dyke Nelson and David Weinstein told the Downtown Development District Tuesday that the $2 million building will feature four single-bedroom units per floor, though Nelson said they are holding off on the design of the top floor in case a buyer wants a larger floor plan.
The units, which will be sold starting at $185,000, will feature balconies and access to a courtyard surrounding the building. The units will be prefinanced and buyers will be required to put down 5 percent, Nelson said.
Nelson said the three units he and Weinstein put in the Tessier building were snapped up so quickly that they decided to build the condos.
The DDD also heard that the 22-unit affordable housing development called 438 Main Street will be completed in September and already has 40 people on the list to rent.
DDD Executive Director Davis Rhorer said residential development is a key part of moving downtown forward because it puts people downtown around the clock to feed restaurants and other businesses.