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Adaptive re-use of former hardware store will bring retail, 91 apartments to Main Street.
BY IMPERIAL.US BUSINESS
October 2016
RIVERSIDE, Calif. – The public is invited to an Oct. 11 groundbreaking ceremony for the new Imperial Hardware Lofts project from Ratkovich Properties, which will bring retail stores and 91 apartments to the Main Street mall between University and Mission Inn avenues.
“We firmly believe the Imperial Hardware Lofts project will be pivotal for the future of downtown Riverside as it continues its transformation into a vibrant place to live, work, and play.”
— Rob Dodman, Principle Ratkovich Properties
The 11 a.m. event will be held in front of the former Imperial Hardware Building at 3768 Main Street. The former hardware store, which has been closed for many years, is being transformed into the first residential project of its kind in the core of historic downtown Riverside.
“This project is a new type of development for downtown Riverside,” said City Councilmember Mike Gardner, who represents the area. “Imperial Hardware Lofts will give Riverside residents an opportunity to live within close walking distance of many of our downtown amenities, such as the Fox Performing Arts Center and the Riverside Municipal Auditorium.”
Rob Dodman, Principal of Ratkovich Properties, called the project’s location — a half-block south of the iconic Mission Inn Hotel & Spa and a block north of City Hall — a “double bullseye.”
“We couldn’t have picked a better site in the heart of downtown,” Dodman said. “We firmly believe the Imperial Hardware Lofts project will be pivotal for the future of downtown Riverside as it continues its transformation into a vibrant place to live, work, and play.”
The Imperial Hardware Lofts project will adaptively reuse and retain the historic Imperial Hardware building façade while creating approximately 8,000 square feet of retail space on the ground floor and 91 apartment units on the upper floors.
Ratkovich Properties of Irvine recently started pre-construction activities at the project, fencing off the area and beginning the demolition of the portion of the building that will not be retained as part of the new project, which is aimed at people who want to live an urban lifestyle in downtown Riverside.
“Riverside has always offered a wide range of housing options to its residents, from citrus ranches to horse property to historic bungalows,” Mayor Rusty Bailey said. “Our city is taking a huge step forward as a result of the innovative approach Ratkovich Properties is taking with this project, and I look forward to the day our newest downtown residents start moving in.”
More information about the Imperial Hardware Lofts project can be found at: https://www.ratkovichproperties.com.