* Project: Downtown student apartments.
* Owner: Attorney Rich Heinsman, who bought the building in December 2006.
* Location: 823 Houston St.
* Current use: Heinsman Law Group and other commercial office tenants.
* New development: Heinsman is renovating and expanding the three-story office building into a 28-unit apartment complex, targeted to rent up to a maximum of 51 occupants.
* Why now? Heinsman said the property has been hard to keep full with commercial office tenants, and it has space behind the building and a finish-able basement for expansion to apartments, which he said are more in demand downtown right now. "There is so much need for student housing, this just seem to make sense since this site is immediately adjoining the campus," Heinsman said.
* Schedule: Heinsman, who has worked in the construction industry in the past, hopes to have the apartments ready for the end of 2016 to begin renting to students in January. "We're working feverishly to get this ready to rent for the spring semester," he said.
* Projected rates: $625 a month per room.
* Appeal: The historic building includes 10-foot high ceilings, giant arched windows and pine wood floors that offer a unique appeal different from other institutional dorms for students. "Our niche is going to be a beautiful building, close to campus with a great landlord," Heinsman quipped. The building is adjacent to the Bitter Alibi, which leases space from Heinsman.
* Size: The existing 4,800-square-foot building will be enlarged to just over 10,000 square feet with additions on the back and the basement of the existing structure, which was originally built in 1910.
- Compiled by Business Editor Dave Flessner at dflessner@timesfreepress.com or 423-757-6340.