A proposed PILOT for The Gramercy would stipulate an annual fee of $78,000, about twice as much as the properties currently generate in taxes but about $100,000 less than what the completed project might pay.
Continue reading Gramercy PILOT would shave $100k off tax bill
Meridia Water’s Edge, a 108-unit rental building that began leasing two years ago, has sold for$29.328 million, or about $271,556 per unit.
Continue reading Meridia Water’s Edge sells for $29.3 million
City Council last month approved a resolution endorsing the adoption of green building practices for civic, commercial and residential buildings.
The developer of a 43-unit East Cherry Street project has requested a 30-year Payment In Lieu Of Taxes (PILOT) to be considered by City Council.
A dispute over downtown parking should be officially settled by next month, which could pave the way for groundbreaking on the 208-unit Main & Monroe project as early as this year. Continue reading Parking dispute nears final settlement
Designs for a 43-unit project proposed for East Cherry Street that includes some new construction and some rehabilitation will be revised and presented to redevelopment officials as early as this week. Continue reading Designs tweaked for Tamarand project
Unable to come to terms on acquisition of the former Mangos Grill property, a developer has walked away from a proposed 88-unit project for the site.
A mixed-used building that was one of the early downtown redevelopment projects was acquired last fall in a sheriff’s sale.
Continue reading Downtown building acquired in sheriff’s sale