Carmel, Ind.-based CRG Residential wants to build 272 units at Yankee Street and Spring Valley Pike across eight three-story buildings, said Joseph Geraghty, executive director of the Port Authority.
In a capital lease deal, the port owns a ground lease at a construction site and is able to abate sales taxes on materials purchased for construction projects. It has been one of the go-to incentives the port has deployed in recent years to boost local business ventures.
Site plans call for a clubhouse with a pool, plus multiple roll up doors to create indoor/outdoor space during good-weather days, the Dayton Daily News reported last year.
Some of the available features for the apartments will include custom light fixtures, quartz countertops, tiled backsplashes, tiled tubs/shower enclosures, framed mirrors, built-in wine racks, stainless steel appliances and private balconies.
In addition to these features, the development will have walking paths throughout.
However, some residents have expressed concern about the size and scope of the project, including the wisdom of constructing a higher-density development on the site and the amount of traffic it may generate.
Mal Peaso, of Maple Run Drive, who has lived in the township since 1984, said late last year the development’s eight 3-story buildings “are going to stick out like an eyesore.”
Also Monday, port trustees approved a lease financing structure and the issuance of tax-exempt revenue bonds to help build a 94,000-square-foot, 124-unit assisted living facility in Springfield.
The development will consist of 35 studios and 89 one-bedroom units at 1990 N. Belmont Ave. in Springfield.
Geraghty said Medicaid will make up the difference between what residents can afford to pay to live there and the cost of their care.
Finally, trustees voted to issue $2.15 million in bonds from its Southwest Ohio Regional Bond Fund to help develop a site where leaders in Piqua hope to build a hotel and two restaurants on 4.1 acres adjacent to Interstate 75 at 902 Scott Drive .
The city of Piqua hopes to see a Hilton Garden Inn, an Olive Garden and a Chipotle built there.
The port expects Piqua government to provide a pledge of non-tax revenues to secure debt services on a loan from the Port Authority, Geraghty said.
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