The 2nd Avenue building long occupied by The Old Spaghetti Factory and vacant since the 2020 Christmas Day bombing is now set for redevelopment.
Illinois-based real estate investment firm T2 Capital Management plans to transform the four-story building at 160 2nd Ave. N. into 50+ residential condominiums, now permitted for short-term rentals following a recent zoning change.
What’s in store
- Upon completion, the development will consist of six stories and 70,000 square feet — that’s two additional floors and 20,000 sqft more than the current structure.
- T2 plans to restore the building’s 10,000 sqft of retail space, though its future tenant(s) has yet to be determined.
- The existing 19-space underground parking structure is expected to remain and be available to condominium buyers.
T2 plans to break ground on property renovations in mid-2025 and complete the project in 2026.
