badfish
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Everything posted by badfish
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As someone indicated previously, LIHTC's were applied for previously, but not awarded. Developer decided to move forward as a market rate deal, and the apartments will not be income restricted in any way. It's been a while since I saw any numbers, but I think rents will be in the $1.75-$2.00/SF range.
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I think there is going to be 2 floors of underground parking, but not 100% on that.
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They are planning to do some soundproofing to the higher units facing the freeway. As for the second lot, I heard that it was owned by Pappas, but not sure what they have planned for it (if anything).
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It is my understanding that Beeson will be a partner in the entity that develops the property. Not sure how hands on he will be in the actual development, but my guess would be minimal.
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I know the developers.
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This will be apartments, approximately 150 units if memory serves.
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