Rise: A Real Estate Company CEO Ryan Holmes said April 30 that he expects construction to start this summer on rebuilding the Doro apartments Downtown.
Shortly before its completion in January and the first tenants moving in, fire struck the $65.54 million, 247-unit, five-story Rise Doro apartments at 960 E. Adams St. south of VyStar Veterans Memorial Arena.
No one was injured.
“Everything is going good there. We’ve cleaned it up and we are looking to move forward,” Holmes said.
He said Rise met with the city last Thursday.
“(We’re) trying to put all the pieces together to start construction back in August,” he said.
Holmes spoke at the groundbreaking of the Rise at Glen Kernan development at Hodges and Butler boulevards.
Holmes said during an interview after the groundbreaking that the goal is to start construction of Rise Doro about Aug. 1 with an 18-month completion.
In 2020, the Downtown Investment Authority board approved a $5.75 million Recapture Enhanced Value Grant for Rise to build the $65 million building.
The city incentive was payable upon completion of the project, and none of the funding has been paid out.
Holmes said Rise would reapply for incentives with the DIA by updating its application.
He said there has not been a determination about the source of the fire.
Holmes said the parking deck is sound, the retail space in the concrete podium is good.and the electrical room was not touched.
He said that the insurance adjuster has not signed off because Rise has not submitted all of its costs.
"We're just working through it," he said of the process to rebuild.
Crews from ELEV8 Demolition began removing the burned structure in February.
The Rise Doro's seven-level parking deck remains.
The company said in March it planned to hire a forensic engineer to analyze the concrete parking garage and podium.
“We hope to reuse the podium and the garage,” Rise Senior Vice President of Development Matt Marshall said Feb. 29. “That depends on what the structural engineers determine.”
The project is on 1.77 acres where the George Doro Fixture Co. fabricated architectural woodwork, casework and millwork.
The Doro building was demolished and the city issued a construction permit in December 2020.
This story has been updated.
