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News Release

June 7, 2007

$20 million project planned for historic rehab and new construction in The Block;
Project would include retail space and New York-style lofts with ‘magnificent views’

ASHEVILLE—Mount Zion Community Development, Inc. and The Landmark Group of Winston-Salem have announced plans for 58 loft condominiums and retail space on the property owned by Mt. Zion Missionary Baptist Church just west of the church in downtown Asheville.

The $20 million development calls for renovating three historic buildings and building three others on a hillcrest site that would give residents of the New York-style lofts magnificent views, particularly of Beaucatcher Mountain and the downtown skyline.

Property owners and neighbors in the South Pack Square Planning Area were invited to a meeting on June 7 at which the development team unveiled preliminary plans for the project that brings renewed residential and economic life to the former foundry site.

Preliminary plans call for 41 one-bedroom and 17 two-bedroom condos starting in the $180,000 range plus four retail/commercial spaces. Three of the buildings would feature interior parking, with additional exterior parking in the courtyard and along former South Spruce Street.

“We think this is a good plan,” said the Rev. John H. Grant, pastor of Mount Zion Missionary Baptist Church. “It’s time for us to act and make something happen.”

Mt. Zion Missionary Baptist Church (www.mtzionasheville.org) has served the Asheville community for 127 years and has owned the property since the 1990s. The Landmark Group (www.landmarkdevelopment.biz) has won national awards for historic preservation and adaptive reuse projects. It has worked with closely with community interests in developing more than $350 million in projects in seven states.



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CONTACT: Mike Massoglia, 336.723.5315

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