Core Development Services is fully moving forward on Phase 5 of its The Lofts at Werthan Mills project in Germantown, following the issuing this week of a permit that will allow the build-out of 98 condo units.
Aaron White, Core president, said the project should be finished in late 2013. The permit is for $5.45 million.
“This phase connects the prior [four] phases,” White said. “From a planning perspective, in some ways this needed to happen … so that you can start to really move forward on the rest of the Werthan Packaging site.”
Completion of Phase 5 will bring the development, originally undertaken in 2004, to 213 units. The phase will create a landscape courtyard that will tie into the property’s historic and iconic water tower, White said.
The eastern portion of the historic industrial complex is now empty as Werthan has moved its pet food bag making operations to White House, Tenn. The building remains empty.
“Core would love to be a part of redeveloping the remainder of the complex,” White said. “It could be us, somebody else or us partnering with somebody else.”