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'60 days' to demolition at 600 N. Broad apartment site

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, after Capmark refinanced his Lofts 640 up the block.

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.