The first new development proposals of the 2020s are starting to roll in thanks to the January LCRA agenda.
The first development of many that I will highlight is this proposal for a mixed use development on the two blocks bounded by Jefferson, Gamble, Elliott and Mills. The project consists of the demolition of several vacant buildings on the two blocks and the construction of brand new apartments, office space, and maybe even some retail space. The first phase of the development is expected to add 50 low income apartments to the JeffVanderLou neighborhood.
The rendering, albeit a bit fuzzy due to being in the LCRA agenda, shows Phase 1 of the development when built out. The look of the development makes it appear at though Doorways is aiming for this development to be green and energy efficient. Solar panels and lots of greens space are seen in the rendering. The estimated cost of the development is $7 Million. The development is Central West End based Doorways Development. They primarily focus on low income and affordable housing developments. Architectural services are provided by Trivers.
Based on the development's cost and the issuance of Low Income Housing Tax Credits (LIHTCs), the City of St. Louis recommends a 15 year tax abatement valued at 100% for 10 years and 50% for 5 years. This recommendation will be reviewed at today's (January 21st) LCRA meeting.
