City strikes deal with local developer for Drake property restoration

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4 thoughts on “City strikes deal with local developer for Drake property restoration

    1. They must be huge units in if they’re only going to be three per floor that building has quite a footprint as far as depth.

  1. Less tax credits to the owner of what appears to be about 15-20% per year for some number of years. And that per unit is the present value of the cost of renovation for a unit that is likely expected to have a functional life span of 20 years for amortization purposes. Special rate financing will be used. I suspect the accounting has progressed well beyond the back of an envelop/scrawled on a paper napkin and everyone involved has aproved.

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