There are currently two proposed apartment development projects in the City of Robbinsdale. One is under construction. The second has had the preliminary development plans approved by the City Council,and the public hearing for Tax Increment Financing has been scheduled for December 18, 2018.
Citizens Independent Bank/Lakeland Professional Office Building (West Broadway/Lakeland Avenue)
Birdtown Flats will be a 152-unit apartment complex on West Broadway just north of Citizens Bank. The building will be market rate apartments with 2-bedroom, 1-bedroom and studio units and plenty of amenities including underground parking, roof top deck, and pet area. The groundbreaking was on September 11, 2018. The apartment site plan is shown below.
The Robbinsdale Economic Development Authority (REDA) has allowed issuance of a privately financed pay-as-you-go note not to exceed $2.5Million. It is anticipated that tax increments for this assistance will be obtained in 10 years. A portion of the higher property tax payments from the development are are available to repay a privately financed loan. There are no public funds provided to the project either from the City or REDA.
Reports related to this development are shown below:
St. Petersburg / American Legion Site (36th and France Avenue)
The proposal approved by the City Council on October 16, 2018 is for a 197 market rate apartment - mostly 1 bedroom with about 20 studio, 30 2-bedroom, and 3 3-bedroom. The St. Petersburg Restaurant and Vodka Bar and the American Legion will still be open until the property is sold to the developer by the current owner. The concept includes 2 levels of underground parking, pet friendly areas, and an outdoor pool. The site plan and building elevation are shown below. The development plan was approved by the City Council agenda on October 18th.Details on this attachment: 10-16-18_A
The project is seeking assistance in the form of Tax Increment Financing. A public hearing on and update to the Redevelopment District 13 and Tax Increment Financing (TIF) District 14 will be held at the City Council meeting on December 18, 2018. The TIF Plan document TIF 14 PLAN will be reviewed by the Robbinsdale Economic Development Authority (REDA) on December 11, 2018.
Next step: Inland Development Partners (the developer) is targeting a public hearing on the project in front of the City Council on December 18, 2018 and requesting REDA to consider a tax increment financing pay-as-you-go TIF note anticipated to be $7.2M. There is no public funds provided by the City or REDA. The project is applying for grants to clean up some contaminated fill on the outer edges of site.
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