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Council approves sale of Murray/Franklin property to developer for workforce housing project
Summary
Council approved an ordinance authorizing conveyance of city-owned land at Murray Avenue and Franklin Street to Presswood Development to enable an estimated $40 million workforce and attainable housing project; staff said design and permitting are complete and closing may proceed.
The Anderson City Council approved an ordinance authorizing the city to convey a parcel at the corner of Murray Avenue and Franklin Street to Presswood Development and affiliated entities to enable a workforce and attainable housing project.
City staff (Miss McGoohan) said the city remains under a purchase-and-sale agreement with Presswood Development and related holding companies and that the developer is near closing after completing design and submitting permit applications. Staff characterized the proposed project as an approximately $40,000,000 development that will use income tax credit financing for workforce and attainable housing. A developer representative, Sarah Neiman, was present for questions; a council member representing the district recommended passage and the council approved the ordinance by unanimous voice vote.
Council did not attach additional conditions in the ordinance as presented at the meeting. The ordinance authorizes staff to proceed to closing under the existing contractual terms as discussed.
