Lindsey O'Brien//June 22, 2012//

Interior demolition of the 107-year-old Rich Building in Old Town Portland began in March, and progress has been quick. On Saturday, interested renters will be able to visit a complete model unit in the mixed-income apartment project, which is being developed by
Crews from are half-way through the $1.3 million project to turn the former railroad hotel into 34 workforce studio apartments. The 鈥淢odern Rich Apartments鈥 is now leasing studios with rents ranging from $590 to $675 and footprints between 200 and 400 square feet.

But surprises are always lurking in historic buildings, said Julie Garver, housing development director for Innovative Housing. The original foundation of the Rich Building, for instance, was not as strong as the engineering and design team from and had hoped.
Still, they were able to 鈥渂eef up the original footings鈥 without adding to the project costs, according to Garver.
The first- and second-floor units are now framed, wired and plumbed. Innovative Housing is seeking one restaurant to fill a 1,445-square-foot corner space, and it’s looking for other commercial tenants to lease a total of 2,880 square feet of storefront commercial space. Those tenant improvement projects could begin over the summer.
Construction of the apartments is expected to wrap up in August to prepare for a Sept. 1 move-in.