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Lebanon council approves Chapter 100 application to support Bridal Properties’ $40M apartment project
Summary
The City Council voted to adopt Resolution 5‑11, authorizing Bridal Properties to pursue Chapter 100 financial incentives for a 216‑unit apartment on the city’s southwest side and a later downtown mixed‑use project; developers said the apartment project is estimated at about $40 million.
The Lebanon City Council on Monday approved Resolution 5‑11, allowing Bridal Properties to begin the application process for Chapter 100 economic incentives for two proposed developments, including a 216‑unit apartment complex estimated at about $40,000,000 and a subsequent mixed‑use building at the former H.D. Lee site downtown.
City staff said the incentive request aligns with the City’s 11/2040 comprehensive plan goal to expand housing choices and affordability. The resolution authorizes Bridal Properties to apply for Chapter 100 bonds, described in council presentation as including a 10‑year, 100% real estate property tax abatement and sales‑tax exemptions on construction materials; the transcript did not specify the percent value for the sales‑tax exemption.
Travis Branstetter, identified in the meeting as the project manager representing Bridal Properties, described the first project as “216 units on the South Side of town” located near the middle school. Branstetter said the site plan includes one‑, two‑ and three‑bedroom units; he told council the one‑bedroom units are roughly 690 square feet and two‑bedroom units about 1,135 square feet. He said rents would be “$995 to about $1,495” and that utilities for water, sewer, trash and internet would be included in rent. Branstetter said the company intends to begin work this summer and estimated a 20–22 month construction timeline.
Emily Gibbons, the city’s director of development appearing by video, told council the city has worked with the developer and did not list additional requirements the developer needed from council beyond the approval to proceed with the application process: “the city's been wonderful to work with,” she said.
Councilmember Paul Garner moved to approve Resolution 5‑11; Councilmember Wall seconded. The roll call recorded affirmative votes from Evans, Mitchell, Mizell, Mechler, Wall, Jordan, Garner and Atkins. The resolution was adopted.
Council and staff emphasized the projects are intended to expand housing stock and support downtown revitalization; Branstetter said the company plans to follow the apartment project with a mixed‑use downtown building that would include retail at street level and housing above. The council presentation said the first development represents an estimated $40,000,000 investment and that incentives would be offered under Chapter 100 bond authority.
The approval allows Bridal Properties to proceed with the formal application process; the resolution itself does not award tax relief or finalize terms, and any final financial agreement would return to the council for further action.
Bridal Properties and city staff said they will provide additional design and timeline details as the application proceeds.
