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- This $120 million mixed-use development will be the economic catalyst which will propel further investment into this neighborhood.
- High-quality retail and services will be attracted to the combination of contemporary design, access to parking and visibility.
- The project will enhance the pedestrian environment with new public plazas, mid-block connection and upgraded streetscape.
- The senior living apartments will allow long-time neighborhood residents to remain in the local community and stay connected to their friends, family, social groups and places of worship. The median household income of these senior residents is expected to be $78,000, well above the median household income for the surrounding neighborhood.
- During the construction phase alone it is anticipated that 400-500 union construction jobs will be created. Then, once the development is complete over 200 retail and senior living positions will need to be filled.
- There will be an increase in annual property tax revenue. The subject site currently generates $80,000 in property tax revenue which will grow to $1.5 million upon stabilization.
- More importantly, over $1 million will be contributed over the next ten years to the local special service area benefiting the community. These funds stay in the community and provide support for beautification, customer attraction, sustainability, economic development, and safety program efforts.