Developer Eric Blumenfeld says he's "60 days" from starting demolition at 600 North Broad Street, the former Wilkie Buick service center, to build Lofts 600, his planned 85-unit apartment building. He says it'll have first-floor retail, and a "spiritual connection" to his 265-unit Lofts 640 up the block, where he also wants to add a couple more fancy restaurants, besides Marc Vetri's La Osteria.
Blumenfeld says he's supplying the equity portion of the $40 million needed to pay for Loft 600. He bought the site from Wilkie President Don Pollett for $9 million three years ago. Blumenfeld won't name the bankers lending the rest of what he needs, yet. But he says he's not scared to start work amid the slowdown: "As they tell you in racecar driving school, when you see a crash in front of you, aim for it, cause by the time you reach it, it'll be somewhere else." He says the job will take 14 months.