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Board reviews Homes Inc. four‑unit project after construction costs exceed estimates
Summary
Staff said the Homes Inc. project at 1201 Northeast Terrace faces higher‑than‑expected construction costs; staff and the project manager will work with the developer to clarify cost drivers before seeking CRA or commission approval.
Staff member described the Homes Inc. project, a four‑unit residential build at 1201 Northeast Terrace, and said the applicant is ‘‘still kinda going through their construction cost because it's a little bit too high.’’
Board members asked whether the developer could request a different incentive amount to bridge the gap; staff said the CRA’s requested amount will remain the same and that the agency's project manager and senior planner are asking follow‑up questions of the developer to understand scope and cost additions. Staff said the priority is to determine whether the extra costs are necessary elements of the project or optional add‑ons before advancing the item to the CRA board or city commission for funding decisions.
