64-unit housing site plan near park OK’d by Bloomington plan commission

A 64-unit affordable housing project to built as a 5-story building on South Walnut Street got its site plan approved by Bloomington’s plan commission on Monday night.

Called Retreat at Switchyard, the project will include 116 total bedrooms.

The 1.5-acre site is at the east entrance of the city’s new 64-acre Switchyard Park, home of the former Night Moves building, which will be demolished.

The project does not need an additional approval by the city council, because it meets the requirements of the city’s unified development ordinance (UDO) and does not require a change to the existing mixed-use corridor zoning.

The building is allowed to exceed the standard four-story limit for the mixed-use corridor zoning district, because it meets the “Tier 2” affordable housing incentives in the UDO.

Continue reading “64-unit housing site plan near park OK’d by Bloomington plan commission”

Tax abatement for affordable housing project next to new park to be weighed by Bloomington city council

By December 2022, Bloomington is expecting to see completed construction of Retreat at the Switchyard, a new housing project with 48 apartments designated as affordable.

The project is a 64-unit, 5-story building with first-floor retail space at the 1.5- acre site of the former Night Moves building on South Walnut Street, next to the new Switchyard Park.

To help the project along, Bloomington’s city council will be considering a resolution at its regular meeting on Wednesday that will take the required steps to give the project a tax abatement.

The resolution would set up the relevant parcels as an economic revitalization area and would approve a 10-year abatement schedule that would waive a total of $154,370 in taxes.

The first year’s abatement would be 100 percent of the taxes owed. That percent would ratchet down over a decade, so that $175,690 in taxes will have been paid by the end of the abatement period.

Next steps, after Wednesday’s expected council action to adopt the resolution, include a public hearing that’s set for June 16. The June 16 hearing will be followed by a city council vote to confirm, amend, or rescind the resolution adopted on June 2.

Another step, before construction can start in August on Retreat at the Switchyard, is a site plan review by the city plan commission.

Also at Wednesday’s city council meeting, a report will be heard on compliance for eight other tax abatements previously granted by the city council. Continue reading “Tax abatement for affordable housing project next to new park to be weighed by Bloomington city council”

Potential affordable housing encore for Kohr hospital building takes another step

The aerial photo of the Kohr Administration Center is from the Pictometry module of Monroe County’s online property lookup system.

At its regular Monday meeting, Bloomington’s redevelopment commission voted to greenlight the formalization of a deal with a potential affordable housing developer for the Kohr Administration Center building, which is a part of the IU Health hospital on 2nd Street.

The potential developer is a group represented by Brinshore Development, Bloomington Housing Authority, and Springpoint Architects, Bloomington’s director of economic and sustainable development Alex Crowley told RDC members on Monday. [Added April 22, 2021 at 9:23 a.m. Rottman Collier Architects is the co-architect in the project group.]

The city of Bloomington will be getting control of the Kohr building in the context of a $6.5 million real estate deal, which calls for Bloomington to take over the whole hospital property on 1st and 2nd streets in 2022. That will come after IU Health moves operations in late 2021 to its new facility, which is currently under construction on the SR-46 bypass.

The question of formalizing a Kohr building deal was put to the RDC, because it’s the public entity responsible for approving tax increment financing (TIF) district funds, which are being used to purchase the hospital site from IU Health.

The RDC’s approval to go ahead and draw up a formal arrangement, will put the group in a position to meet this year’s July 26 deadline for an application to the federal low-income housing tax credit (LIHTC) program, to help finance the project. Awards through the program are due later in 2021, Crowley said. Continue reading “Potential affordable housing encore for Kohr hospital building takes another step”