Construction has finally begun at a location not so fondly known as “the pit” on the South Slope in downtown Asheville. The apartment complex is part of the latest wave of development on the South Slope: apartment and condo construction. The last I heard, the plan for this location along Coxe Avenue next to the old Chrysler building was a four-story apartment complex.
About seven years ago, developer Rod Kagy developed plans to build a 12-story green condo complex on the location. It was known as Zona Lofts. The project failed and went into bankruptcy. Many people who put down deposits for condos lost that cash in the process, and the who deal left a sour taste with man.
In the years since, the pit has just sat there, weed covered and a reminder of those grim times. Now the boom is on, turn is being turned and the South Slope is transforming before our eyes.
The Developer is Tribute Properties, the same company that owns The Lofts At South Slope Next door, and the Lot across the street where the tenants of the Lofts park.
Original plans for parking deck were scraped. Someone needs to build a parking deck down here!!
Do you have the name of the current developer of this site?
I think this should be considered an eight story building. Four stories of apartments on four stories of parking.