Backstreets Capital has finalized a $5 million acquisition of prime Mirror Lake real estate, unveiling plans that blend historic preservation with new luxury development. The purchase includes a historic 4,047-square-foot building at 250 Mirror Lake Drive North and adjacent vacant lots, previously owned by attorney Matt Weidner.

The development plan features three distinct components:

• Restoration of the 87-year-old office building to its original purpose as a single-family residence
• Construction of a new two-story single-family home on the northeast corner
• Development of an 18-unit luxury condominium tower rising seven stories on the western vacant lot

Working with Place Architecture, the developers aim to harmonize the modern condominium design with the area’s historic character by incorporating Mediterranean Revival elements that echo the neighborhood’s architectural heritage.

The timeline for the condominium project remains flexible, with construction expected to begin within two to four years. The developer has not yet announced plans for a sales launch or groundbreaking.

Meanwhile, the property’s former owner, Weidner, has relocated his law practice after purchasing a 2,346-square-foot building at 856 2nd Avenue North for $1.4 million, situated behind 11 Chicks Venezuelan restaurant.

(Image credit: Backstreets Capital / Place Architecture)