By Rio Nuevo
The Rio Nuevo Board unanimously approved a lease and development agreement turning over the development of The Solot Plaza to the team lead by Larsen Baker.
Larsen Baker indicated they intend to invest approximately $5M into the entire block and present a remodeled and rebranded mid-century plaza now named The Sol Block, with parking and entrances relocated to the rear of the property.
“We created design concepts that enhance the historic facades and will make people see these buildings again for the first time,” said Melissa Lai with Larsen Baker. “We’re hoping this project will create momentum for further development along the Sunshine Mile.”
Rio Nuevo committed $1.25M toward tenant improvements and committed to purchasing an easement to the west of the property to build a driveway that will allow for Broadway traffic access. Construction is planned to begin in April and the team is hoping the property will be move-in ready by the fourth quarter of 2023.
