Lamm Street lot development moves forward

The empty lot by the Children’s Museum of Southern Minnesota and the Land to Air Express is one step closer to becoming affordable housing.
Published: Apr. 11, 2022 at 10:00 PM CDT|Updated: Apr. 11, 2022 at 11:07 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

MANKATO, Minn. (KEYC) - The empty lot by the Children’s Museum of Southern Minnesota and the Land to Air Express is one step closer to becoming affordable housing.

The site at 221 Lamm St. in Mankato could soon be the location of Sinclair Flats, a four-story building with 48 units of affordable housing, and Lewis Lofts, which would include 64 units of affordable housing for seniors.

Lewis Lofts is now requesting pay as you go tax increment financing to assist with redevelopment costs.

Related: The Docket: Mankato plans affordable housing for empty Lamm Street lot

Monday, the Mankato Economic Development Authority adopted a motion directing staff to prepare for a hearing on May 23 that would establish the tax increment district.

”The developer is now formally requesting the tax increment financing from the city for the creation of a housing TIF district. The proposed TIF district would include the entire development site. The TIF assistance would be used primarily to assist with the development of the Lewis Lofts project and the construction of Dewey Lane,” said Economic Development Specialist Courtney Kramlinger.

Copyright 2022 KEYC. All rights reserved.