Project # 82495
The Oglesby Hotel Apartments is an adaptive reuse of the historic Oglesby Hotel. Initially built in 1891, the Queen Anne-style mansion was converted into a hotel after being sold in 1911 and is now transformed into affordable apartment living. The Oglesby Hotel Apartments comprise 25 one-bedroom units spread throughout the first three floors and basement. The apartment lobby and management office are located on the main level. Amenities include a business center, a community picnic, and a patio area with off-street parking. The Oglesby Hotel Apartment retains its original woodwork, ornate staircase, and tiled bathrooms. Each unit has been renovated with an in-unit washer/dryer and a fully equipped kitchen.
VERTEX performed our standard Lender’s representative services, including pay application review, hard cost review, and monthly site observations. VERTEX provided prompt pay application review and recommended funding by participating in monthly onsite pencil requisition meetings and site observations, which allows for mitigating risk and leads to a more efficient funding process throughout the project’s life-cycle.
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This project was originally awarded to Fulcrum which is now part of The Vertex Companies, LLC.