As we outlined last year, a building permit for the fully-entitled, 97-unit development to rise up to 80 feet in height on the Out of the Closet site on the southeast corner of Polk and California was about to be approved. And in fact, a building permit has not only been approved but since paid for and issued.

In addition, a demolition permit for the site has since been approved, paid for and issued as well.

And the prominent Polk Gulch site, supersized plans and permits are now on the market as a fully entitled development opportunity rather than positioning to break ground.  We’ll keep you posted and plugged-in.

7 thoughts on “Fully-Approved Polk Street Project Put Up for Sale”
  1. The listing broker put together a simplistic offering memorandum. There is scant property or market information, or even an explanation about why someone should purchase it. Essentially, the agents are unconsciously saying to potential buyers “We don’t understand it, so you figure it out.”

    However, this does not work in a real estate market with declining sale prices, rising construction costs, and increasing quality of life issues.

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