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Council approves rezoning for 64‑acre Paradise/River Road apartment project; developer outlines two‑phase, market‑rate plan
Summary
Fiduciary Real Estate Development won council approval to reclassify 64.13 acres at East Paradise and South River Road for multifamily use. The developer presented a two‑phase, market‑rate townhouse‑style apartment community (about 230 units in phase one), preserving wetlands and a historic home and not seeking TIF assistance.
The Common Council on Oct. 20 approved a land‑use amendment and rezoning for about 64.13 acres at the southwest corner of East Paradise Drive and South River Road to allow a multifamily residential development proposed by Fiduciary Real Estate Development.
Craig Raditz, Vice President with Fiduciary Real Estate Development, and his team (Paul Schmitter and Sam Elliott) presented a conceptual plan during the council meeting and at earlier Planning Commission hearings. They described a two‑phase, market‑rate residential community intended to provide a "missing…
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