Mixed-use project includes retail, apartments, office space and possibly a hotel.
According to the development agreement, the first of three phases of construction will begin by Jan. 1, 2025 and be completed by July 1, 2026. The three phases add up to the $145 million capital investment.
After that, the city will owe $1 million annually on each of the first eight anniversaries of first phase completion. The city, as it typically does with development projects, will cover basic infrastructure improvements.
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