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Council backs $3.6 million TIF for 180‑unit affordable housing project at 25th and Center
Summary
The council approved tax‑increment financing of roughly $3.6 million to support a redevelopment that would replace industrial buildings with 180 income‑qualified apartment units and 18 rowhouses, part of a roughly $56–57 million total investment.
The City Council approved TIF support for a major affordable‑housing redevelopment at 25th and Center that would demolish two vacant industrial buildings and construct 180 apartment units plus 18 rowhouses, financed in part with low‑income housing tax credits and a TIF assistance package the council capped at roughly $3.6 million.
City Planning’s Bridget Hadley presented renderings and a capital stack overview, saying the total project investment is “about 56, almost 57 million” and that the TIF portion is approximately $3,600,000. A developer representative said the site has been an eyesore and that redevelopment will bring housing and public improvements; the council approved the resolution 6–0.
What’s next: the developer will proceed with detailed design, demolition permits, and the financing steps required by the TIF agreement, and city staff will coordinate public‑improvement cost‑sharing described in the presentation.
