After economic incentives for the project were denied, former City Commissioner Bob Schumm is scaling down his plans to build a five-story condominium, commercial and office building on a vacant portion of Vermont Street.
“It’s kind of a lengthy redo, but I’m committed to the fact that there will be a project there someday,” Schumm said.
Schumm said he plans to resubmit the incentives request once a revision of the project’s plans are finalized. Though plans are still preliminary, Schumm said the scaled-down project would eliminate one floor of condos and the underground parking garage for the building’s residents. There will be about five condos instead of 12, and, as before, one unit will be designated as an affordable housing unit.
The modifications substantially reduce the price of the project, with costs dropping from $9.3 million to about $5 million, according to Schumm. Incentives for the project were denied on a mixed vote, and Schumm is hoping the modifications will allow it to pass.
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