East Point close to completion

Published 9:37 pm Wednesday, November 18, 2009

Tom Powell has done this type of thing before.

He has purchased property and then worked to renovate and develop it. But the project he is just weeks away from completing is by far the biggest one yet.

“If there has been any hiccups along the way, no one has told me about it,” Powell said during an open house of the new Lofts at East Point development on East Washington Street. “Monument Construction has done a fantastic job, and we are just about done.”

Wednesday evening’s event showcased a number of completed loft apartments featuring hardwood floors, ornate brick walls and high-end appliances, including washers and dryers.

During the open house, guests were able to walk through some of the completed lofts, including one staged with furniture by Powell Home.

But those features account for only a portion of the pride Powell feels for taking on this project in an area of town that has not seen much redevelopment.

“I hope we are ahead of the curve and I believe we are,” Powell said. “I could not be any happier with this location. It’s our home.”

Powell’s marketing agency, The Addison Group, will also be housed in the three-building development, which features loft apartments ranging in rent from the high $600-per-month level to the mid $900-per-month level.

“Every loft is different. Each one of them is unique,” Powell said.

Powell purchased the buildings in 2006, but demolition and renovation work did not get going until earlier this year in April.

“At this point, we will be finished by the end of the year,” Powell said. “We have some lofts that are already completed and a number that still require some work.”

The final project will have 32 loft apartments of different sizes, with each of the buildings connected by a walkway. Access to the buildings will be available through a key lock system.

Powell said information on the group managing the rental of the property will be provided later, but he encouraged those interested to visit the development’s Web site at www.eastpointplaza.com.