The next round of Mill District redevelopment would convert a former surface parking lot into luxury condos, affordable apartments and a parking ramp serving the Mill City Museum and area residents.
The City Council voted 12-0 to grant Brighton Development 12 months exclusive rights to a block immediately south of the Mill City Museum. The block is bounded by Washington Avenue South and 2nd Street South and by Park and Chicago avenue south.
According to a staff memo:
The Council approved the concept several years ago. The block's first project is the $5.3 million, 324-stall parking ramp in the center of the block.
Brighton proposes building the $12 million St. Anthony Mill Apartments in two phases. The five-story, 84-unit apartments would surround the ramp along Washington and Chicago avenues.
Brighton proposes building the $22 million, 38-unit Park Avenue East Lofts to mirror the Park Avenue West Lofts now under construction on the other side of the street.
The Finance Department recommends the city create two new tax-increment financing districts on the block; one district would help pay for the affordable housing, the other would help pay for the ramp. Tax-increment financing devotes a portion of a development's new property taxes to pay for public improvements.