The Schwind Flats

September 23, 2020

The beautiful terra cotta style 11 story “Ludlow Manor Building” was purchased by Rain & Associates in July 2004. The project plan was to create 82 affordable market rate units comprised of 9 two bedroom, 62 one bedroom and 11 studios and two commercial spaces on the first floor. Our plan met all requirements of HUD imposed restrictions for the building.

Other forces in local government had different plans for the building and put roadblocks in place to stop our project. We performed extensive interior and exterior work in our preparation, but chose to sell it to another developer.

Sometimes, as the saying goes, you have to know when to hold them, and when to fold them.

Metro Bay Development specializes in creating exciting new opportunities for buildings that others think should be demolished. Transforming an old cold storage building to hip lofts, or a large industrial warehouse into a jobs center, we find the most economical way to repurpose, reuse, recreate value for undervalued assets.
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