Immediately after 20 many years of working the Drums, Etcetera. shop on New Holland Avenue, Rick Hamilton was preparing on a adjust of landscapes and a change in organization.
He was heading to downsize and relocate his retail outlet, shift most of the revenue to on the net and develop into a companion in a new condominium venture somewhere else in the metropolis. He even set the New Holland Avenue property up for sale.
Then Hamilton received a further thought – go ahead with moving and streamlining Drums, And so on., but just take his residence off the current market and build rental housing there by himself alternatively.
“I considered my home experienced a a lot superior locale (than the internet site of the partnering prospect) and I already owned it, which would make it much easier to get financing,” Hamilton explained Thursday.
The outcome will be the 550 Lofts, a $4.2 million development of 22 just one-bed room loft flats. The upscale flats, with regular monthly rents beginning at $1,300 and dimensions ranging from 600 to 760 square feet, are predicted to be all set for occupancy in July.
Hamilton’s undertaking joins proposals for a half-dozen other sizable rental-housing developments in the town in the previous 18 months, all surfacing as demand is potent and the cost of borrowing money is minimal.
The venture will mix the old with the new, reported challenge architect Gary Weaver of Tippetts/Weaver Architects. The web site now is a advanced of 4 properties, like the previous Park Resort made in the late 1800s. The a single- and two-story properties put together are 10,000 square ft.
Hamilton has hired Benchmark Development to make the apartments at the extremely seen property, in the vicinity of Quips Pub and the Lancaster Science Manufacturing facility. Benchmark will renovate all of the current room, increase a next tale to the just one-story structures, then establish a 3rd story throughout the complete footprint, representing 12,000 square ft of new development.
The .7-acre web-site amongst North Plum and North Franklin streets will have 27 parking spaces and ample landscaping, which include a 6-to-8 foot swath of planting beds close to the making and 22 trees, providing storm h2o administration. Hamilton also is placing a pet dog park at the rear of the website.
The job will consist of 1,900 square feet of refurbished commercial place, element of exactly where Drums, Etc. operated and, in advance of that, Martin Equipment, L.R. Keperling & Sons appliances and air conditioning, a candy retail store and a tavern.
Drums, And many others. left the New Holland Avenue sophisticated, wherever it made use of all 10,000 sq. ft, in September for 1,700 sq. feet in The Fiddlers Environmentally friendly Village at 2503 Lititz Pike, Neffsville.
Hamilton, 60, a Lititz resident who grew up in Lancaster metropolis, established Drums, Etcetera. in 1985 on North Plum Road. It then relocated to North Queen Road in 1993 and moved to New Holland Avenue in 2000.