Board Bill Number 113 | Session 2022-2023

Chapter 99 Redevelopment Plan for the 490 North Kingshighway Blvd. and 4952-4956 McPherson Ave. Area

Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 490 North Kingshighway Blvd. and 4952-4956 McPherson Ave. Area. The project consists of the renovation of the existing building, the demolition of the two-family building, the construction of a five-story apartment building on top of the existing building and an addition to the existing building to the east. The development will have 118 units ranging from studio to 2 bedrooms above a 127-space parking garage, at the cost of $ 33.5 million. The financial model concludes that the project supports ten (10) years of tax abatement (5 at 90 percent followed by 5 at 75 percent) the LCRA Board concurs. This board bill will allow, ten (10) years of tax abatement (5 at 90 percent followed by 5 at 75 percent).

Download

Lastest Bill text:

Overview

Session: 2022-2023

Introduced: 10/28/2022

Sponsor: Michael J Gras

Latest Activity: Second Reading

Legislative History

Legislative activities and outcomes for this board bill. Learn more about what these activities mean.

Was this page helpful?      



Comments are helpful!
500 character limit

Feedback is anonymous.

5 comments from people like you have helped us improve this page. Keep the feedback coming!