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Council committee approves Oxford Row allocation area, developer seeks TIF to finance 46‑unit neighborhood development
Summary
The committee approved creation of the Oxford Row economic development and allocation area and a TIF allocation area for the Chatham Park-developed mixed‑use project, which the developer said will include neighborhood retail, 46 housing units and a 10% deep‑affordability commitment.
The Metropolitan and Economic Development Committee approved two related proposals to remove parcels from the Fall Creek Citizens Redevelopment Area and Fall Creek Citizens Consolidated Housing TIF and to create the Oxford Row economic development and allocation area for the Oxford Row (Chatham Park) project.
Sherry Orr, principal program manager for Economic Incentives at the Department of Metropolitan Development, presented the items together and said the site occupies previously remediated land that the city cleared using brownfield funds in 2015. Nathaniel Vasales, vice president of Chatham Park Development, described Oxford Row as a three‑story, neighborhood‑scale mixed‑use walk‑up at 20th and Delaware in Fall Creek Place, across from Goose to Market.
Vasales said the development will deliver a total of 46 residential units, neighborhood retail totaling more than 5,000 square feet, and local jobs. He told the committee the project is harder to finance because its neighborhood scale lacks the economies of scale of larger apartment complexes; the developer is therefore requesting TIF support. As presented, roughly 10% of units will be reserved at 50% of area median income (AMI). Vasales also said approximately 15% of the project’s financing would be TIF‑backed.
Councilor John Barth said he had discussed the proposal with the developer earlier and supported the project. Leader Maggie Lewis moved consideration with consent; the proposals were approved by voice vote.
The committee’s recorded discussion addressed site history, financing structure, the project’s small‑scale design and neighborhood letters of support; presenters said there was no remonstration from the neighborhood association. The city’s brownfield history at the site and the developer’s request that TIF finance a minority share of the project were noted by members who asked for confirmation of the percentage of TIF in the capital stack.
Votes: The motions to create the Oxford Row economic development area and Oxford Row allocation area and to remove identified parcels from the Fall Creek redevelopment and housing TIF areas were carried by voice vote.
Implementation steps described by DMD include preparing the legal framework for the allocation area and continuing consultation with neighborhood stakeholders and city departments on site plan review and remediation oversight.
