Summary
A $38.8 million, 124-unit downtown apartment project on the former YMCA parking lot, using the new housing brownfield TIF with up to ~$26.6 million in tax capture over 30 years. The developer commits $100,000 to nearby Reutter Park.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Mar 9, 2026.
Impact analysis
New taxes flow to the site, but ~$26.6 million of increment is captured instead of going to schools, the county, and other taxing units for up to 30 years.
Downtown gains 124 workforce-priced housing units and the developer gets a financially viable project.
Taxing entities forego a portion of new tax revenue during the capture period.
Mentions & discussions (2)
City Council - Mar 9, 2026
Council approved Brownfield Plan #90 to replace a downtown surface parking lot with 140 apartments — a $38.8 million private investment, plus $100,000 for a community park project.
City Council - Feb 23, 2026
A $38.8 million, 124-unit downtown apartment project on the former YMCA parking lot, using the new housing brownfield TIF with up to ~$26.6 million in tax capture over 30 years. The developer commits $100,000 to nearby Reutter Park.
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