Inner Loop East Generates Over $200 Million in Private Investment

“We are rebuilding our city block by block, neighborhood by neighborhood, along the Riverway and in our neighborhoods,” said Mayor Warren. “The Young Lion of the West is roaring again. I am grateful to the many development partners for making these investments in our city and helping us create more jobs, safer and more vibrant neighborhood and better educational opportunities.”

The Inner Loop East Development Project created a seven development sites on six acres, all of which have now been awarded to developers. The combined developments are estimated to generate a total investment of at least $229 million and create 534 housing units and approximately 152,000 square feet of commercial space. More than half of the housing units will be rented using the City’s affordable-housing metrics. Many units will be connected to support services associated with poverty reduction. The developments are projected to create 2,489 construction jobs and an estimated 170 permanent jobs.

Site 1 on the north side of Charlotte Street is being developed by Home Leasing to construct affordable housing; Site 2, between Charlotte Street and East Avenue, is being developed for mixed use by Dave Christa; Site 3, between Broad Street and East Avenue will be a mixed-use development with a pharmacy developed by Trillium Health and Home Leasing; Sites 4 and 5, at the intersection of South Union Street and Howell Street, are being developed by a partnership including the Strong Museum, Konar Development and Indus Hospitality for an expansion of the museum along with a hotel, housing and retail space; Site 6 on Howell Street will be the site of five townhomes developed by Capstone Real Estate Development.