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Bradenton CRA approves incentives agreement for 320‑unit development with workforce housing commitment
Summary
The Community Redevelopment Agency approved a draft incentives agreement for AMRES Investments’ proposed 320‑unit mixed‑use project at 5th Street West, including a 15‑year commitment to provide 15% workforce housing and financial incentives intended to leverage developer financing.
The Community Redevelopment Agency (CRA) of the City of Bradenton on Jan. 28 approved an incentives agreement for AMRES Investments to support a proposed 320‑unit mixed‑use development at 5th Street West.
Chris Manion, assistant director of the CRA, told the board the proposal includes a 15‑year workforce housing commitment requiring 15% of units to be set at 80–120% of area median income, which for a 320‑unit project translates to about 48 workforce units. "The proposed is a 320 unit multifamily mixed use development," Manion said, and staff estimated the project could generate "over 4 and a half million dollars" for the CRA over the…
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