Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Developer asks Anniston for help advancing McCollum Historic Industrial District apartment project
Summary
A property owner told the council he has secured historic tax credits and HUD financing but faces a roughly $4 million sewer relocation and higher interest rates that are delaying a market-rate apartment conversion of 10 historic buildings in the McCollum Historic Industrial District.
John Kennedy, a property owner and developer, told the Anniston City Council he is seeking city assistance to complete a planned conversion of 10 historic buildings in the McCollum Historic Industrial District into market-rate apartments.
Kennedy said the buildings — which include vehicle maintenance shops, stave buildings, original stables and a blacksmith shop — are masonry and steel structures listed on the National Register of Historic Places and that the project has captured state and federal historic tax credits and has been approved for a HUD 221(d)(4) loan.
"We own 10 of those historic buildings," Kennedy said. "We're redeveloping them as a 60 unit, market rate apartment community. Phase 1 is 79 units." He later described the unit mix as "51…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
