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Council approves six‑year tax abatement for Cascade Phase 2, staff say project is $50M and will add mixed‑use development on East Bank
Summary
By unanimous vote the council adopted Resolution 2611, approving a six‑year mixed‑use tax abatement for Warf Partners’ Cascade Phase 2—a proposed eight‑story, roughly $50 million project with 22–32 for‑sale residential units and ~30,000 sq ft of commercial space. Staff presented estimated tax‑abatement numbers and said residential abatement would apply only while the developer retains ownership.
The Common Council on April 13 adopted Resolution 2611, designating 312–318 East Koffax Avenue as an economic revitalization area and approving a six‑year tax abatement to support Warf Partners’ proposed Cascade Phase 2.
Eric Lavich, the city’s director of growth and opportunity, presented the request and the staff’s tax‑impact estimates. He described the enclosed Phase 2 concept as an eight‑story, approximately 112,000‑square‑foot mixed‑use building (estimated development cost about $50 million) with an estimated 22–32 for‑sale residential units and about 30,000 square feet of commercial space. Lavich said Phase 1 obligations tied to an earlier…
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