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WILKES-BARRE — The Courthouse Square Towers building has attracted the attention of an out-0f-town developer interested in converting the office building into apartments.
Courthouse Tower Apartments LLC will provide details of the proposed project at a public meeting of the Wilkes-Barre Zoning Hearing Board set for 4:30 p.m. on Nov. 20.
Attorney Mark McNealis of Hunlock Creek, who is representing the developer in the zoning case, said the six-story building at the intersection of North River and North streets across from the Luzerne County Courthouse is largely vacant and would require extensive work to construct up to 50 proposed apartments.
McNealis said the trio of investors behind the proposed conversion has experience in the New York City market.
“They’re going to be investing substantial funds in the building,” McNealis said Monday.
“It’s a pretty big deal,” McNealis added.
McNealis declined to disclose the amount of the investment as well as the offer made to purchase the 39,000-square-foot office building and the adjacent 195-space parking garage.
The property at 216 N. River St. was listed in an online auction at zetabid.com that ran from July 29 through Aug. 1. The starting bid was $899,000. The site reported five bids were received and the building’s status was pending.
“The offer that my client made was more appealing,” than the offers made in the auction, McNealis said.
The building has some tenants in the upper floors and Jasmine, a Thai restaurant and lounge on the first floor. The bid site listed a 32% occupancy rate.
“They do plan on keeping the restaurant on the first floor,” McNealis said. The available parking will be more than enough for the proposed apartments, he added.
Courthouse Tower Apartments LLC is requesting a variance that would convert the building to a majority residential use. McNealis explained that within the S-1 zoning for the building, restaurants and offices are allowed, in addition to dwelling units on upper floors.
“They’re going to have to gut the building,” McNealis said. He said it would have to be brought up to code to contain apartments and that the proposed project would take more than a year to complete.