Summary
A 15-year Neighborhood Enterprise Zone certificate for a new nine-story, 60-unit apartment building at 1728 Michigan Avenue would cut the developer's property taxes to roughly $70,000 a year versus an estimated $600,000-plus without incentives. In exchange, 12 of 60 units would be affordable at or below 60% of area median income.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Discussed at 1 meeting in the last 60 days; most recently Sep 30, 2026.
Impact analysis
Roughly $413,000 a year in forgone property tax revenue for 15 years.
The developer and future tenants, including 12 households in affordable units.
City and school tax revenue is reduced for 15 years on this parcel.
Mentions & discussions (2)
Budget, Finance And Audit Standing Committee
An $8 million, 21-unit mixed-use apartment building at 3436 Cochrane Street got the committee's nod for a 15-year Neighborhood Enterprise Zone tax certificate, with six units below 80% AMI.
Budget, Finance And Audit Standing Committee
A 15-year Neighborhood Enterprise Zone certificate for a new nine-story, 60-unit apartment building at 1728 Michigan Avenue would cut the developer's property taxes to roughly $70,000 a year versus an estimated $600,000-plus without incentives. In exchange, 12 of 60 units would be affordable at or below 60% of area median income.
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