Brief Description
City Vista Apartments is a seven (7) story mixed-used project located at the northeast corner of NW 6th Avenue and Dr. Martin Luther King, Jr. (MLK) Boulevard. In addition to 111 residential units, this project has approximately 7,400 sq. ft. of non-residential ground floor space spread across two (2) buildings that is connected by breezeways. The non-residential ground floor space consists of a business center and community room for the apartment complex’s residents, as well as housing the CRA administrative offices. Additionally, the building has a central parking lot and pedestrian-friendly plaza fronting MLK Boulevard.
City / CRA Investment
- The CRA placed the proceeds, $1.4 million, from the sale of the land in an escrow account that was subsequently used to build the infrastructure and street improvements surrounding the site, including the rebuilding of the section of NW 4th Street that abuts the property to the north.
Public Benefits
- Substantial private investment on a blighted corridor
- Access to the CRA run co-working space for budding entrepreneurs
- New, quality housing to enable local residents to live and work Downtown
How it Happened
- The CRA had assembled over 30 acres of land over a 20-year period and this parcel was in the center of the targeted redevelopment area.
- In 2010, the CRA initiated land use and zoning amendments to accommodate large scale, mixed- use development.
- The CRA plan was amended to enable public-private partnerships.
- An RFP was issued and the City Vista proposers won.
- A year later they were awarded the tax credit and a development agreement was approved by the CRA Board credits to enable financing of the project.
