The project will rise between 8th and 9th avenues North and 12th and 14th streets North, on the edge of the Civil Rights District. Slated for completion in late 2007, local officials consider the project, a key step to spurring further development in and revitalizing the historic neighborhood.
In addition to an eight-story processing center, the complex will include a 1,765-space parking deck. The center will include a full-service cafeteria, child-care center, credit union, a fitness center and an auditorium.
To account for the fact that there are no other high-rise buildings in the Civil Rights District, the tower will sit back from the street on a two-story podium. Opus is working with architect HOK on the project.
A source with the GSA told GlobeSt.com in August that the lease agreement calls for 20 annual payments of $15.38 million. A source at Opus said the project's development cost is approximately $100 million.
The existing Southeast Payment Processing Center occupies twice as much space in an older building at 2001 12th Ave. N that has been home to the Southeast Processing Center since 1974. The property is owned by Franklin Haney of Chattanooga, TN. "The building is functionally obsolete and the SSA is downsizing its program requirements," said the GSA source.
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