Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Affordable Housing topic
No spam. Unsubscribe anytime.
Developer warns delay could end Canal Village 3 affordable housing project; committee advances continuance
Summary
Developer Gary Hobbs and residents urged the Metropolitan and Economic Development Committee not to postpone Canal Village 3, saying tax-credit timing and increased costs threaten the project. The committee recorded a motion and the transcript shows the motion carried; the item had been postponed previously and supporters were acknowledged.
The Metropolitan and Economic Development Committee heard an update on Canal Village 3 (proposal 184) on July 14, with developer Gary Hobbs warning that a further delay could put the project’s tax-credit financing and construction timeline at risk.
Hobbs, introduced as president and CEO of Bridal, told the committee that the project’s tax credits have a fixed timeframe and that the developer had already received one extension. He said starting construction before winter was “absolutely critical” and that delays would force re‑submission of market studies and environmental reports and raise costs for the project and for prospective buyers. Hobbs said the development has a wait list of about 150 people who need three- and four-bedroom units.
Hobbs addressed community concerns from remonstrators and said his company paid a penalty for a COVID-era communication failure, which he called “a fact” that he accepts. He also said a signed memorandum of understanding ties Canal Village 1 porch extensions to commencement of Canal Village 3 work and that some fencing and site work had already started.
Several supporters in the audience stood when asked by Councilor Delaney to be acknowledged. The chair recorded a motion on the item; the transcript indicates the motion carried but does not list a roll-call tally. The item had been postponed from a prior committee hearing at the request of the district councilor. Hobbs urged committee members to support the project at the next meeting so construction could start in August.
The transcript records both supporters and references to remonstrators; no public testimony opposing the project is quoted in the transcript for this hearing.
