Kinsley Properties and Royal Square Development & Construction have formed a joint venture to convert a vacant office building in downtown York into a 43-unit apartment.
- The 38,000 square-foot building is the former Fox Bakery at 204 N. George St., not far from WellSpan Park.
- Construction on the $7 million project began this week and is expected to wrap up in 10 months, according to Dylan Bauer, an executive with York-based Royal Square.
- The units will be all one-bedrooms with rents starting at around $1,095 per month.
The building: Kinsley interests have owned the property since the 1990s, according to county records.
- A portion faces North George Street but the main entrance to the building — and its 65 parking spaces — sits off West Gay Avenue.
- While it was erected as a bakery, the building was last used as an office. It has been vacant for at least four years, Bauer estimated.
- The conversion project to create Fox Apartments is being financed by York-based Traditions Bank.
- The funding mix also includes state and federal tax credits, for historic preservation, Bauer added.
- Lancaster-based TRUE Commercial Real Estate is marketing ground-floor retail space, which could be divided into two spots, Bauer said.
The trend: Converting former offices into apartments.
- The Fox Bakery project is at least the second unveiled this summer in downtown York.
- Harrisburg-area developer Derek Dilks is planning to convert part of a former bank office into apartments.
