Listen to this articleNew Orleans-based NORF Companies, a tax-advantaged real estate development company, has announced the commencement of renovations on The Fair Foundation Building located at 121 S Broadway Ave. in Tyler, Texas.
With an investment of about $4 million, these capital improvements portray NORF’s “unwavering commitment to the redevelopment and revitalization of Downtown Tyler,” according to the news release. “The improvements will enhance tenant experience and modernize the building’s functionality and aesthetics.”
Renovations comprise various aspects including:
-Installation of new flooring, paint, and state-of-the-art LED lighting in all suites.
-Revamping of break rooms and conference rooms.
-Installation of a new roof.
-Implementation of new HVAC systems and controls.
“We are excited to embark on another transformative project in downtown Tyler,” Ilse Stough, director of development at NORF Companies, said in a news release. “These renovations underscore our commitment to investing in historic properties in exciting markets that we believe in.”
Construction commenced on March 12 and is expected to be completed by November 2024.
“The Fair Foundation Building is part of NORF’s national strategy to improve communities by redeveloping historic buildings and revitalizing blighted neighborhoods while generating compelling risk-adjusted returns for investors,” the news release reads. “NORF focuses on value-add and opportunistic real estate, including distressed assets in attractive markets as well as new development projects.”