Board approves Knapp Hills townhomes brownfield amendment for infill development on Dean Lake Avenue

The Brownfield Redevelopment Authority voted to approve a brownfield plan amendment for the Knapp Hills redevelopment at 270 Dean Lake Avenue NE, which will add 38 multi-family townhome units to an underused parcel.

Staff described the project as 8 four-unit buildings and one six-unit building totaling 38 units, with 22 two-bedroom units averaging about 1,300 square feet and 18 three-bedroom units averaging about 1,500 square feet. The total project cost was estimated at roughly $12.3 million, with approximately $9.25 million identified as hard construction costs. The developer reported inclusion goals of roughly 22% of eligible hard construction costs (MBE/WBE/MLBE participation) and is seeking just under $2.1 million in Brownfield housing TIF eligible activity reimbursement. The brownfield plan’s reimbursement schedule will deliver income-qualified status for certain units for 12 years with the final five years’ capture going to the local Brownfield revolving fund, staff said.

Developer Ryan and others explained site conditions (an old pole barn remains on site) and financing choices (the 12-year TIF commitment reflects the balance achievable with rent loss calculations and typical 5–10 year loan terms). Board members asked about unit mix, basements/walkouts due to grade, and why the length of the housing TIF was set at 12 years; developers said the financing and retention expectations informed that choice.

After clarifying a typographical discrepancy in table attachments (Northeast vs. Southeast note in legal descriptions), the board approved the resolution by voice vote and asked staff to annotate the record to ensure the legal description is corrected in the amendment package.