Building So-Tow

May 21, 2009 10:38:26 AM PDT
New York has the "So-Ho" District ... for south of Houston Street. San Francisco has "So-Ma", for south of Market. Now a local developer wants "So-Tow" to be part of the Fresno landscape. So-Tow would be the area just south of Fresno's Tower District ... along Fulton Street north of Belmont.Local Developer Terance Frazier coined the term "So-Tow." The plan is not only to refurbish an apartment complex ... but give an entire neighborhood a new name and image.

For all of its interesting architecture, the Fultonia Apartment Complex is just another blighted area. Terance Frazier's mission is to make this the center-piece of an area he has dubbed "So-Tow," south of the Tower District.

The Fultonia doesn't look like much now but the 39-units will be refurbished with fresh tile and granite counters.

Monthly rent will range between $450-and-$650-dollars. City officials say the Fultonia will help fill a need for affordable housing. 10 commercial spaces are also available.

The Fultonia recently listed for $1.6 million dollars but Frazier and his partners with TFS Investments picked it up at a foreclosure auction for half that amount. He calls the So-Tow project a tribute to his father, Michael Thayler, who took him in when Terance was twelve years old.

A dozen residents still need to be relocated. Frazier expects to have the Fultonia ready in five months.

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