The formerly named Exchange Place project at Douglas and Market downtown took years and years – and a new owner with Scottsdale-based John McWilliams – to come together.
However, the Douglas project, as it’s now known, seemed to come together quickly once it started.
The 11-story former Bitting Building (or Oil Trade Center, as it also once was known) at the northwest corner now has its first half dozen occupants for 66 apartments. The building is known as Tower 1 within the Douglas.
The rest of the project – including the nine-story, 139-apartment Exchange Place building, or Tower 2, at the northeast corner and a new seven-story combination parking garage and 35 apartments, or Tower 3, to the east of Tower 2 – will be ready early next year for a total of 240 apartments and commercial and office space.
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That will include an amenity area on a rooftop of the sixth floor of Tower 3 that will be accessible to all tenants. There’s a resort-style wading pool, cabanas, fire pits, grill areas and other features surrounded by five penthouses. There’s also a dog wash, a free bike storage area in the basement and a storage bin area with various-size units for an extra fee.
Originally, contractor Key Construction estimated that the project would be complete by mid-March, but with cooperative weather and productive sub-contractors, that schedule has been moved up, says Key vice president Chris Beasley.
“We anticipate having this thing substantially complete … by February.”