In a April 27 study session the council discussed an environmental study and the project's $25.6 million budget, which includes a $7 million loan from the city's affordable housing fund and a $13 million federal tax credit. Partly because of high quality materials, each unit will cost $502,354 to construct.
Depending on a family's income level and the size of apartment needed, rents will range from $563 to $1,600 for one-, two- and three-bedroom apartments, saving residents from $215 to $1,157 compared to a market rate apartment of the same size.
Units would be made available to qualified families living on less than 60 percent of the area median income on a first-come, first-served basis.
Residents of the condos next door at 108 Bryant Street did not speak in opposition to the project at they have in previous meetings, although their opposition likely played a part in its latest design, which places a courtyard between the two buildings and removes a driveway that would have run along the adjoining property line.