Developer Karl Wolf proposes 30‑unit apartment on Home Road, asks council to consider TID incentives

Karl Wolf, presenting under communications, told the City of Juneau Common Council he plans a 30‑unit apartment building on a 2.7‑acre parcel on Home Road and asked the city to consider tax‑increment financing to make the project feasible.

Wolf said the proposed building would contain 15 one‑bedroom and 15 two‑bedroom units and that a market‑feasibility study (prepared to test demand for up to 50 units) showed rental demand in the area. "The 1‑bedrooms were right around $1,000 to $1,100, and the 2‑bedrooms around $1,300," Wolf said, and estimated construction costs of about $100,000 to $120,000 per unit, all‑in.

The chair noted that state code will require sprinkler systems for the units and that a larger water main connection will be needed to serve the building. "The city only helps you out from the backside," the chair said, describing how a Tax Increment District (TID) would be used to provide incentives paid from future incremental tax receipts rather than the general fund.

Planning Commission member Troy said the commission recommended rezoning the property from R‑3 to a planned unit development (PUD) so the proposed density could be permitted; he cautioned that rezoning must be followed by the public‑notification and hearing steps before any city approval. "Planning commission recommended approval to rezone from R‑3 to a PUD," Troy said.

During questions, a council member raised timing and parking questions; Wolf said he expects roughly eight months from groundbreaking to completion once construction starts, described one garage stall per unit plus surface parking, and said he would provide elevations and pro‑formas at the next meeting for a more detailed financial review.

Other council members stressed financial caution about using a TID for predominantly residential projects. One participant observed that "housing does not pay for itself," urging careful review of the city’s long‑term obligations and pending capital demands. Council members agreed the next steps are a completed rezoning application, public hearing and submission of detailed pro‑formas and engineering so the committee can evaluate fiscal impacts before any formal TID or incentive decision.

The planning commission and developer said they will return with detailed plans and financial documents for review at a future meeting.