Developer Says Shalom Home Site Project is a ‘Go’
Developer Jeff Laux says he has “never been more optimistic” that his plans to convert the former Sholom Home property into rental apartments will work. The plan is revised slightly to build 148 market-rate units in the four existing buildings at 1554 Midway Parkway.
“It’s still a giant step to construction,” Laux told the Como Community Council in January. But he has completed a “painstaking” cost analysis and a thorough structural analysis, and a 10-year pro forma shows the project will work financially. Laux says he is spending nearly $1 million to finish internal demolition and other internal clean-up so there is a clean shell from which to start renovation. He anticipates filing requests for construction permits with the city in February or March.