The Rio Nuevo Board approved a vote to advance the Julian Drew Lofts with a $1.75M, 25-year loan to local developer Ross Rulney. The $9M, 5-story project located at 140 E. Broadway in the historic Julian Drew block, will include 3,350SF of ground-floor retail and 44 loft rental units with 16-foot ceilings in order to accommodate lofts that will be built over each kitchen unit. A second-floor roof terrace in the building will extend to the east to offer a common space for residents and access to the top floor of the Julian Drew building.
At the April 2020 meeting, the Board voted to approve the developer’s request to develop the former Access 12 building located at 124 E. Broadway rather than developing the lot at 140 E. Broadway. The building will be home to 20,000SF of new restaurant and retail space.
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