In many ways the Broad Avenue water tower has become the defining emblem of the iconic arts district, but the empty warehouse it sits on stands in stark contrast from the vibrant shops, restaurants and art galleries that line the more developed south side of the street.
That could all soon change as James Maclin, a former MAA executive and local multifamily expert, and Bob Loeb, owner of Loeb Properties Inc., have teamed up to bring what many people feel is the area’s last missing piece.
“When I look at that area now, you have great businesses and restaurants that are already there, but after 9 p.m., there’s limited activity and foot traffic, because no one lives there on a large scale,” Maclin said. “Multifamily brings that last piece that can really take Broad Avenue to the next level.”
Maclin and Loeb are hoping to parlay their respective areas of expertise – multifamily and retail – into a massive mixed-use project on the 8.5-acre parcel where the water tower is attached to a 222,000-square-foot vacant WWII-era warehouse.