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Lawrence council approves Overlook at Fort Bend rezoning and authorizes up to $4.5M in developer-backed bonds; developer to record six 80% AMI units
Summary
The Lawrence Common Council unanimously approved rezoning for the Overlook at Fort Bend, a 104-unit multifamily project, and authorized up to $4.5 million in developer-backed economic development revenue bonds. The developer agreed to record six units at or below 80% area median income tied to the TIF documents for 25 years.
The Lawrence Common Council voted unanimously on April 6 to rezone property at 9535 Memorial Park Drive (Lee Road) for a proposed 104-unit multifamily project and to authorize up to $4.5 million in economic development revenue bonds to support the development.
Grant Deaton, representing Rebar Companies and The Ridge Group, described the proposal as “a 104 unit class a multifamily development with 2,800 square feet of ground floor retail off of Lee Road and Memorial Park Drive,” and said the project would include roughly 170 parking spaces and a mix of studio, one-, two- and three-bedroom units. Deaton said the team would reserve six units at 80% of area median income (AMI) and that, with financing, construction could begin this summer with first occupancy targeted in November 2027.
Renee Grama, director of public works…
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