When we first mentioned 5800 Third Street two years ago Levin Menzies & Associates and Lennar were leading the development charge and the project was seeking Planning Commission approval. Today, the project is the hands of Noteware Development and the Goldman Sachs Urban Investment Group (UIG) and construction is underway.
The first phase of the project is slated for completion in winter 2009 with the second phase following in 2010. And in addition to the aforementioned full service grocery store, the 5800 Third Street development will consist of 338 condominiums including 47 Below Market Rate (BMR) units. “Prices for the market rate units have not yet been set, but will likely start in the mid-$500,000s. Prices for the affordable units will likely start in the mid-$200,000s.”
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