Plans move forward for two downtown apartment projects
(THE MED CITY BEAT) - A pair of large projects on the outer edges of downtown Rochester moved forward Monday night.
The city council approved the final development plan for an affordable housing complex near the intersection of First Avenue NW and Fifth Street NW, just north of Civic Center Drive.
"Flats on First" will consist of 52 two-bedroom units and 16 one-bedroom units. Developer Joe Weis said the primary objective is to provide affordable housing for people who walk to work downtown.
Housing will be restricted to residents who earn 60 percent of the area's median income. Based on the current median income, that equates to household incomes of between $28,000 and $50,700.
The council also approved an incentive package for a mixed-use development near the People's Food Co-op on the south side of downtown.
"501 on First" was awarded $1.7 million in tax incremental financing. Under the proposal, the five-story building will provide commercial space at the ground level and 84 apartments in the upper floors.
The property — home to the former University Village Inn — is located along the south side of 5th Street SW and east of 2nd Ave SW. The motel building still needs to be demolished.
According to the developer, the new building will include a shared fitness room, private storage units for rent and a rooftop patio with an adjacent community room. Apartments will be a mix of studios, one-bedrooms and two-bedrooms.
(Cover graphic: 501 on First / City council packet)