The money comes from the city’s affordable housing fund.
The Juneau Assembly unanimously approved more than $3.1 million in loans last week toward The first loan approved was for $900,000 and will go toward building 18 one-bedroom apartments on Cordova Street in West Juneau. The second loan is for $2.2 million and will help build 48 apartments at the Chilkat Vistas subdivision in Lemon Creek.
“Apartments don’t pencil out, and that’s why no developers build them in this town. But, with this money, you guys make it possible. It’s the only way it’s going to happen,” he said. Heumann agreed to similar terms for 14 of the Chilkat Vista apartments. He also agreed that 31 units would be available to people who make 80% or less than the Juneau Area Median Income, at a monthly rent of about $1,700 or less for an efficiency unit.Neither developer can use the apartments as short-term rentals until their 10-year loans are repaid.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Juneau’s new police chief talks accountability, hiring woesDerek Bos finished his first week as chief after moving to Juneau from Colorado.
Baca lebih lajut »
Juneau teachers, students and parents react to proposals for closing or reorganizing schoolsThe Juneau School District is facing a nearly $8 million budget deficit for the current school year. District leaders are considering closing or reorganizing schools and cutting staff to balance the budget.
Baca lebih lajut »
New wetland habitat maps will help capture Juneau’s ‘wildlife and fish factory’The Southeast Alaska Land Trust will create new tideland maps to replace maps from the 1970s. The Southeast Alaska Land Trust will create new tideland maps to replace maps from the 1970s.
Baca lebih lajut »
Uni leads $2.3M project for in-orbit satellite maintenanceInteresting Engineering is a cutting edge, leading community designed for all lovers of engineering, technology and science.
Baca lebih lajut »