A developer plans to build 115 market-rate apartments at 48th and Aylesworth streets, the second phase of a project that includes another apartment building just to the south at 48th and Holdrege streets.
The Lincoln City Council held a public hearing Monday on proposed zoning changes and whether the $20 million project conforms to the City-County Comprehensive Plan.
The council will vote July 25 and if it approves the two matters, the plan can move forward.
The apartments will be built on the block bounded by 48th, 49th, Aylesworth and Martin streets and will include 23 studio apartments, 19 alcove apartments (with more separation for beds), 45 one-bedroom and 28 two-bedroom apartments. There also will be 122 surface parking stalls and nine single-stall garages.
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The developers want to use $3.2 million in tax-increment financing, a financing tool that allows developers to use future property taxes generated by projects to pay for certain upfront cost.
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The apartment building will look similar to the first apartment building just to the south, but will have apartments, not commercial space, on the first floor, said Andrew Willis, who represents the developers.
It’s difficult to find commercial tenants, he said, and there is demand for more apartments.
The building will use solar panels and the parking lot will have charging stations for electric cars, he said.
The second phase will expand the planned unit development approved in 2016 for the first apartment building by a little over 2 acres. The land now has a number of old commercial buildings on it and they will be removed.
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