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Council grants one-year option for downtown redevelopment parcels to developers proposing workforce and veterans housing
Summary
By resolution the council approved a one-year option agreement allowing Southern Tier Environments for Living Inc. and Eagle Star Housing Inc. to pursue purchase of 399 West Main and two Carmichael Street parcels for a proposed workforce and veterans housing project with a $450,000 option price.
The council on Aug. 5 approved Resolution 25-26-22 authorizing a one-year option agreement for three adjacent parcels—399 West Main Street, 36 Carmichael Street and 52 Carmichael Street—priced at $450,000 for purchase if due diligence succeeds.
Council supporters described the developer as following a model used by a local firm (the DePaul group) and said the project would deliver 66 units of workforce and veterans housing rather than a larger 100-unit building, which proponents said would reduce height and neighborhood impact. “He'd like an option on the property so that he can go through the due diligence necessary,” a council sponsor said. The council recorded a roll-call approval for the option agreement.
Council members emphasized the expected neighborhood benefit and the city's interest in achieving an appropriate scale; the option allows the developer time to complete due diligence before any sale is finalized.
