Purchase Finalized, More Detail on Plans Emerge for 607 Market Street

I reported in January that 607 Market Street (AKA The U.S. Bank Building, AKA The Crystal) was under contract to LawlerWood, LLC. That sale was finalized recently and plans for the building to be converted to new residential homes for sale will begin very soon. Previously office space, built in 1965 and updated in 2004, the building no longer meets modern expectations for office space. The public bathrooms, for example, are in stairwells and are only accessible via stairs. I recently toured the building with Joe Petre and Ben Petre, two of the partners in the LLC, to learn specifics about the plans.

U.S. Bank will continue to utilize their ground-floor space with a separate entry leading into the bank. The main entrance into the building from Market Street will serve residents, as well as a handy side door onto Clinch providing a close connection to the French Market which will (happily) remain in operation at its current location. “We’re very fortunate they are staying.” This side door also sits directly across the street from 413 Clinch, a 52-space (currently public) parking lot. It has recently been purchased by Home Federal Bank (it is adjacent to the much larger lot they have owned for many years) and will be leased to the new residents at 607 Market Street for parking. Home Federal is providing financing for the project and Joe and Ben said they have been great to work with. Residents may lease a dedicated space in the lot if they choose.

The other ground-floor plan of note is that the space previously occupied by the Lunch Box will become the office and center of amenities for residents. Included in that will be mailboxes, package delivery, club room, and a fitness center for residents. During construction the space will serve for staging materials, reducing interference for sidewalk traffic.

As noted in the previous article, the second floor is substantially set back from the first-floor profile. The resulting rooftop area outside the new second floor homes will become the only exterior space available to new residents. Developers anticipate separations between each unit to provide private outdoor spaces.

The current plans call for 48 new homes, with each new homeowner (who buys early enough) given the chance to choose between the four finish types pictured here. While most floors will be similarly divided (specific floor plans to come later), the range of finishes should make the building seem less uniform from each home to the other.

Each of the residential floors contains about 7,800 square feet. The second floor will include four residential units with outdoor space; floors three through eight will include five homes each. The ninth and 10th floors revert to four condos and the top two floors, the 11th and 12th will be only divided into three penthouse units each. In a unique twist, the top two floors will include a one, a two, and a three-bedroom unit, whereas most projects only place their largest homes at the top of the building. In total, the plans call for 15 one-bedroom, 31 two-bedroom, and two three-bedroom homes.

The glass on each floor will be replaced because it dates to 2004. The partners agreed that an upgrade to newer double-pane glass with built-in UV protection would be necessary. “It’s really for our peace of mind and for the buyer’s peace of mind.” There are some louvers on the 12th floor that will be replaced with glass, and the western-facing glass may be slightly different (not in external appearance) to account for the heat from the western sun. The heating/cooling equipment currently occupying the 12th floor will be removed to make more room for homes, while the new split units heating and cooling each home will be placed on the roof.

Design will be handled by Design Innovation Architects and construction will be completed by The Christman Company. While few outward signs will be obvious during the interior work, the literal outward signs will see some change, with U.S. Bank retaining the signage on the northern and western sides of the building and the new (yet to be named) condos taking the eastern and southern side signage. The previously announced projected schedule remains in place, with demo to start this summer, construction by September and delivery of homes in 10 to 12 months with homes move-in ready by late summer or early fall 2027.