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Developer revises Timber Lofts plan after higher bids; council seeks details on unit mix and SDC buy‑down
Summary
The Timber Lofts project was reduced in height and reconfigured after construction bids came back much higher than expected; the developer plans to keep unit count but convert much of the project to studios, prompting council concern about the loss of retail and changes to the affordable/workforce mix. Staff confirmed the city previously approved a $275,000 SDC buy‑down and will return with revised SDC figures.
A developer update on the Timber Lofts downtown project prompted council concern after staff said the construction bid for the previously approved four‑story project came back nearly double initial estimates.
A representative for the project (Speaker 9) said the developer is reconfiguring the plan to lower building height while retaining roughly the same number of units. The revised proposal would shift the unit…
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