In a recent city commission meeting, officials discussed significant developments in local economic projects, including the Vandenberg Center redevelopment and the Benjamin Flats project, both aimed at addressing housing shortages and revitalizing vacant properties.

The Vandenberg Center project, located at 111 Lyon Street Northwest, is set to transform an existing office building into 140 residential units, with 28 units designated for households earning at or below 100% of the area median income (AMI). The total investment for this project is approximately $31 million, with $23 million allocated for construction. The developer is seeking over $15 million in brownfield eligible activities, which include demolition, environmental remediation, and infrastructure improvements. This initiative is seen as a crucial step in converting underutilized office spaces into much-needed housing, particularly in the wake of changing market dynamics post-COVID.

Additionally, the commission approved the establishment of a neighborhood enterprise zone (NEZ) for the Vandenberg Center project, which will provide tax incentives for the development. This NEZ designation aligns with city policies aimed at fostering economic growth and supporting affordable housing initiatives.

The meeting also covered the Benjamin Flats redevelopment project at 916 Benjamin Avenue Northeast, which plans to replace a dilapidated gathering hall with three two-story buildings containing 39 apartments. Of these, eight units will be income-restricted for households earning at or below 100% AMI. The total project cost is estimated at $7.6 million, with the developer requesting approximately $4.6 million in reimbursements for eligible activities.

In addition to these housing projects, the city manager introduced discussions on potential amendments to the city's Payment in Lieu of Taxes (PILOT) ordinance, which governs tax exemptions for affordable housing developments. Recent legislative changes allow for broader definitions of workforce housing, potentially increasing the supply of affordable units. The proposed amendments aim to streamline the application process and enhance compliance measures, ensuring that developments meet community needs while maintaining financial viability for developers.

The commission's proactive approach to these housing initiatives reflects a commitment to addressing the local housing crisis and revitalizing underutilized properties, ultimately fostering a more inclusive and economically vibrant community.