Beam Development completed the Broadway Commerce Center in 2012, a five-story structure designed for a mix of creative office space and ground floor retail and restaurant use. Tenants currently include an architecture firm, a graphic design company, several software development firms, and ground floor restaurants.
The renovated structure represents a multi-year public-private partnership. In July 2008, Beam Development utilized a combination of local and federal funds to acquire the formerly vacant and blighted structure. Public funding for this project included a $7.89 million loan from the City’s Urban Renewal Agency using funds from the federal HUD Section 108 loan program, a $2 million loan with funds from the Brownfield Economic Development Initiative, and a $350,000 loan from the City’s Downtown Revitalization Loan Program.
Prior to the renovation by Beam Development, the building was the McMorran & Washburne building and J.C. Penny & Co.