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Committee reviews two NEZ rehab proposals; Lakewood project postponed then sent to formal, Elliot to return with financial breakdown
Summary
The committee heard two Neighborhood Enterprise Zone applications: a proposed 18‑unit rehab on Lakewood (developer Yury Logvin) and a 6‑unit rehab on Elliot (owner Craig Jenkins). Logvin's presentation was interrupted by a technical issue and the Lakewood item was postponed then later sent to formal recommendation; Jenkins was asked to return with a capital breakdown in two weeks.
Two neighborhood rehabilitation proposals were discussed under New Business.
Lakewood (2681 Lakewood): Chris Gulak of CPC presented a plan by Lakewood LLC (managing member Yury Logvin) to restore a 1923, three‑story building into 18 one‑bedroom rental units. Gulak said the petitioner proposed about $27–30,000 per unit for a total investment north of $500,000 and target rents of $900 per month (about 55–60% of area median income). The developer aimed to lease roughly half the units to low‑income veterans…
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