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EDA and council approve CityWalk Apartments TIF district to spur high-density housing downtown
Summary
The Rochester EDA and city council approved an economic development and TIF financing plan for the CityWalk Apartments project, a proposed ~340-unit high-density housing development near a future high-frequency transit station; the developer committed to preserving 76 nearby naturally occurring affordable units under a 20-year county program.
The Rochester Economic Development Authority and Common Council voted on May 19 to approve the economic development plan and tax-increment financing (TIF) district for the CityWalk Apartments redevelopment on the corner of 2nd Street SW and 6th Avenue SW.
City staff described the project as a 13-story, approximately $86 million redevelopment that would yield about 340 market-rate units (staff and the developer described a breakdown of roughly 250 market-rate units plus 90 short-term rental units in some project materials) with underground structured parking and public-realm…
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