Excerpts from the article:
Called the Mid-Med Lofts, the development was born from three abandoned, dilapidated buildings at the corner of East Canfield and John R, including the Melrose Hotel, which was built in 1927. Developers John Peabody Jr. and Matthew Summers saw the buildings as structures that were worth saving. They threw $8 million into the project and hired architect John Gardner to make it happen.
The lofts have hardwood floors, 9-foot ceilings, kitchens with granite countertops and stainless steel appliances and a master bedroom suite. Amenities include private balconies, a weight room, secured parking and on-site shops. The units measure from 818 square feet to 1,718 square feet. The cost: $171,600 to $399,000.
Presales of the lofts have been brisk: more than 30 percent have sold already. In addition, the three retail spaces in the development are leased. The stores will be a deli, a gift shop and copy/business center.
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