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Thursday, May 30, 2024

New lofts in downtown Ocala targeting Summer opening

A downtown development of lofts and shops that was approved by Ocala officials in 2021 has broken ground and is working towards opening later this year.

Crews have been working at the site of the new Brick City Lofts and Shops, which is located along the 400 block of SE 1st Avenue.

Brick City Lofts Shops in Ocala
Crews work at the site of Brick City Lofts and Shops, which are opening this Summer. (Photo: April 4, 2024)

According to the property listing by Bricks & Mortar Real Estate Development, the new condominiums should be completed by this Summer.

In 2021, Brick City Lofts and Shops received approval to construct 16 residential units and nearly 9,000 square feet of commercial space that comprise the project.

According to Bricks & Mortar, pre construction reservations are now being accepted for the community.

Brick City Lofts and Shops
Brick City Lofts and Shops

Property listings show the condos will each feature 1,162 square feet, two bedrooms, and two bathrooms. Property listings show that the price of each unit will start at $439,000.

Each unit will feature quartz countertops and wood cabinets, laminate wood floors, ceramic backsplashes, walk-in closets, bathrooms with quartz countertops, tile showers, and wood cabinets, and a laundry room with a washer and dryer. Each unit also will come with a private storage unit on the first floor.

Brick City Lofts and Shops
Brick City Lofts and Shops are coming to the 400 block of SE 1st Street

The city previously approved just over $355,000 in incentives for the project, including just over $100,000 in improvements to water, sanitary, and electric utilities. The city estimates the payback period for the investment in “ad valorem revenue is 11.43 years,” according to city records.

With its addition, Brick City Lofts and Shops is one of several new developments that have contributed to the constant evolution of downtown Ocala.

In the same year that the lofts received approval, Lamplighter Legacy Apartments was also approved by the Ocala City Council. That development took shape over the past three years and is now open and leasing.

Additional developments that have opened in downtown Ocala since Brick City Lofts and Shops were first approved include Mellow Mushroom, the District Bar and Kitchen, the Hilton Garden Inn.

For more information on the new Brick City Lofts & Shops, visit the Bricks and Mortar Real Estate Development website.