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Developer asks CRA for $750,000 toward rehab of 16-unit Alibaba Ave. complex; board flags parking and budget timing
Summary
A developer presented plans to renovate a 16-unit courtyard apartment at 1900 Alibaba Avenue and requested potential CRA support; board members expressed concerns about parking adequacy and said any funding decision must wait for next fiscal-year budgeting and resolution of parking and zoning issues.
A developer seeking CRA assistance presented a plan on Tuesday to renovate a 16-unit courtyard apartment complex at 1900 Alibaba Avenue and requested the agency consider a capital subsidy of about $750,000; board members said they will not commit funds this fiscal year and raised parking and timeline concerns.
The owner told the board the building, acquired in 2017, needs substantial rehabilitation and that total renovation costs are about $1.4 million. The CRA director said the agency’s historical approach to similar projects ranges from…
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