Frisco’s empty ‘nurses building’ may be redeveloped
Summit Daily News
Condominiums and a commercial property could be in the works for the corners of Frisco’s 4th Avenue and Granite Street in Frisco, where the long-empty property and former bank known as the “nurses building” will hopefully soon be sold by the town.
Frisco council put the property, which consists of the building and the surrounding parking lot, on the market earlier this year with the hopes of spurring economic development. Summit County developer Larry Feldman – who built Dillon Ridge Marketplace, along with 450 single-family homes and condominiums in Frisco since 1981 – recently offered the town’s asking price of just over $1 million. Tuesday night, town council passed on first reading an ordinance to sell the property; a second reading is scheduled mid-October.
The possible sale comes with some conditions, including a clause stating the buyer must redevelop the property in the immediate future. That way, it’s not left untouched for years, and business is spurred sooner, rather than later.
Feldman, who is in the process of finishing up construction at Boulevard Bend Condominiums in Frisco, already has a vision for the property: several “high class,” but affordable condos and a commercial front. He’s not sure how many condominiums quite yet – the density allows for seven, but if affordable-housing units are added, as Feldman hopes to do, there’s a possibility for more. He wants to design them similar to the Boulevard Bend condos, which contain granite countertops and stainless steel appliances.
It’s a great location, but it needs the right design and price-point so people will buy, he said.
At first Feldman figured he would knock down the existing building, but after taking a thorough tour, he decided it’s something he can work with and build upon. He wants to use the few front rooms, which house the old bank vault, as the business front and redevelop the rest as living quarters. The trees outside will remain untouched.
If the sale is approved at second reading, the town should be able to start finalizing agreement details in late October. Feldman hopes to have a sketch plan drawn up by the end of October, a development application into the town before Jan. 1 and an approved plan by spring. He wants to start building next summer, and would like to see people moving in by Christmas 2012.
The building was constructed in 1971; it has been the home to a bank, and more recently, different nonprofits. It has been vacant for the past few years.
The town bought it in 1995 for $235,000.
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