LIMA — Reconstruction of the former Metropolitan Bank Building — the soon-to-be home of the forthcoming Metro Center Upscale Lofts & Business Arcade — will begin soon.
The renovation could transform Elizabeth Street: the top half of 1920s era bank building will be painted red, adding a pop of color to the Metro Center’s gray façade and highlighting its historical ornamental molding, which developers plan to preserve.
The new design will also incorporate some of the bank building’s original components, like its terrazzo floors, bank vaults, mail chutes and classic doors, according to a press release.
Once complete, the Metro Center will house 34 upscale loft-style apartments. And on the first floor, a miniature small business mall which developers hope to lease as retail, office and dining areas.
William Walter, managing partner of Pursuit 3, a partnership of Walter Development and Trisco Systems, said the Metro Center should be move-in ready by the middle of this year.
The interior of the building has already been cleared, Walter said, with reconstruction expected to begin next week.
Walter said 20% of the Metro Center’s apartments have been leased pre-construction.
Single-bedroom lofts will rent for around $1,000 to $1,500, while double lofts are expected to rent for $2,000 to $2,500, depending on the apartment’s size and amenities.
Some lofts, for example, will have private balconies or patios, which vary in size.
Tenants will have access to a community room on the second floor and to a rooftop garden.
All lofts will be outfitted with upscale finishes and amenities, complete with a full kitchen and washer and dryer in each unit.
Walter anticipates the lofts will appeal primarily to millennials and retirees, which he said could be a “game changer” for downtown Lima.
“We hope it will have a beneficial impact,” he said. “We feel it will.”
Reach Mackenzi Klemann at 567-242-0456.