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Renderings of the under construction renovation of the Commerce Tower were released. The downtown 32-story tower, built in 1964, will feature a mix of uses including 342 market-rate residential units in addition to some office, educational, and retail space. The CVS store that exists in the ground floor of the attached garage will also see a major overhaul / upgrade as part of this project.
Commerce Tower sits on Main Street along the under construction streetcar line and will have a station at it's doorstop. The booming rental market downtown has seen several projects snatch up underutilized or vacant office space, shrinking available supply. As the downtown job growth has now been ticking up, we are starting to see demand for new office projects as well.