Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council approves 5-year tax stabilization for Post Road apartment project, with 20% affordable housing
Summary
The Warwick City Council voted to authorize a five-year tax stabilization for a proposed residential development at 1880 Post Road that will include a set-aside of affordable units; the measure passed after a public hearing and debate over terms and oversight.
The Warwick City Council approved a resolution authorizing the mayor to enter into a five-year tax stabilization agreement with Renaissance Development Corporation for a residential project at 1880 Post Road, Assessor's Plat 322, Lot 336. The authorization passed on a recorded affirmative vote during the council meeting following a public hearing and extended discussion about the deal’s terms and community impacts.
Attorney Kate Joseph Shikachi, representing Renaissance Development, described a mixed-market residential project the applicant said would replace a long-vacant parcel near T.F. Green-area businesses. Shikachi said the developer is not seeking zoning relief and proposed a five-year phased tax treatment that the developer and city negotiated as a way to make the project economically feasible amid high construction costs. “This project meets or exceeds every single zoning ordinance,” Shikachi told the council. She said the developer originally sought a ten-year break but…
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
