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August 4, 2017 Comments Off on Downtown Building Gets Second Chance Views: 2497 Texas - Other, Texas News

Downtown Building Gets Second Chance

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The long-abandoned Petroleum Building at 202 E. Whaley St. in downtown Longview, TX, is now en route to a second life as an apartment building. Saigebrook Development LLC plans to begin construction in early 2018 on the project, dubbed Alton Plaza, which will offer 49 units upon completion sometime by mid-2019. A second housing project by the same developers, the 74-unit Edgewood Place, will also be built near the Longview Regional Medical Center at 2901 N. Fourth St.

Edgewood will be built at a cost of $13.1 million, while Alton Plaza will cost $7.8 million to renovate. The developers plan to reserve 33 of the units in the 61-year-old Petroleum Building for renters who meet the criteria for affordable housing. Edgewood Place will offer 56 income-restricted apartments.

It’s hoped that the developments will help revitalize Longview’s downtown, while providing more affordable housing in the area.

Read More at Longview News-Journal

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