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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