Council approves $3.6M TIF for 2501 Center affordable-housing redevelopment
A redevelopment plan to demolish two industrial buildings and build 180 affordable apartments (plus 18 row houses) at 25th and Center was approved; developer expects about $56.5M total investment with approximately $3.6M in TIF support.
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Council approved a tax-increment financing redevelopment plan to support a large affordable-housing conversion at 2501 Center. City Planning described the project as demolishing two industrial buildings and replacing them with two apartment buildings totaling 180 units plus 18 row houses; the financing stack anticipates Low Income Housing Tax Credits and private equity.
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