Developer outlines plans for 299-unit downtown Humboldt Street apartment project
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Summary
A local developer told council he expects to break ground on a 299-unit mixed-use project at 425 Humboldt pending final bank loan approval and thanked city staff for expedited processing.
Tom Robertson, a downtown developer, addressed the council during public comment to describe the 425 Humboldt Apartments project, a 299-unit, mid-rise mixed-use building with commercial space.
Robertson said financing had been lined up and that he expected formal bank loan approval "any day now," with a potential groundbreaking in late July or early August. He praised city staff for an expedited design-review process, saying the project obtained design approval within about 90 days and credited staff—s assistance with off-site infrastructure grants.
Nut graf: The remarks were informational and part of a public-comment period; no action or city vote occurred on the project at the meeting. Robertson asked for continued staff and council support as project financing and permitting progress.
Ending: Robertson said he and his partner would stay engaged with city staff and councilmembers over the coming weeks while financing and permitting work conclude.
