Lipe's Maduro lofts become apartments

Maduro at University Village, 1435 W 15th St

So much for these lofts. Laura Knepper of Lipe Properties said this morning that the Maduro at University Village conversion is now an apartment building.

Lipe started rehabbing the old American Cigar Stores manufacturing facility at 1435 W 15th St last spring. The project comprised 108 one- to three-bedroom timber lofts starting in the $190s.

Several factors, including recent changes in the housing market, prompted Lipe to take the Maduro lofts off the market. The building will retain many of its originally advertised features, like a club room, fitness center and 24-hour door staff, all of which should set the building apart from other rentals in University Village, Knepper said.

Lipe still plans to build 92 for-sale condos next to the Maduro conversion. Construction was supposed to begin this spring, but Knepper said work will not begin for at least two years.

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