Looks like the city is looking to make available 25M for housing development in downtown from the existing pool of redevelopment funds next Tuesday.
So far of the redevelopment funds used recently, there hasn't been as much used for new housing as I would like, which should be at the top of the list. So far I can't think of anything recent outside of the Berry Hotel rehab and The Cathedral Building loan.
Funds recently have been used for projects such at the Cosmopolitan Theater, The Citizen Hotel, loans for Ella and McCormick & Schmick, The Crocker expansion, and the stalled 700/800 K Street project. I wanna see the money used for housing now.
While I hope we see some large 100+ unit projects as listed in the staff report, I also hope smaller projects such as the Maydestone rehab at 15th and J get in on the action.
Proposals that will be accepted include:
*Rental or ownership housing - mixed-use, live/work, loft and adaptive re-use.
*New Constriction (30+ units)
*Rehabilitation (30+ Units)
*Adaptive Reuse (30+ Units)
Priority Given to:
*Mix of market rate and affordable housing units
*Located in JKL
*Superior sustainable urban design
*100+ residential housing units.
Fore more details, please click on the below staff report.
Downtown Housing Investment Strategy and Notice of Funding Availability