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PrintCOLUMBIA – A four-story apartment building is the new plan for downtown property once targeted as the site of a $17 million mixed-use development that would have included a grocery store.
Brothers Nathan and Jon Odle are preparing to file plans with the city this week to begin construction at the northwest corner of Tenth and Locust streets.
Peckham and Wright Architects is designing the building, which Jon Odle said will have 16 four-bedroom apartments.
The Odles submitted a site plan to the city on Jan. 19, and they have demolished three apartment houses that occupied the 0.2 acre lot. The site plan indicates they hope to finish construction by August, when college students return for the fall semester.
The Odles plan to promote the new apartments at MU's Off-Campus Housing Resource Fair on Feb. 17.
"I imagine it will appeal to students, given the location," Odle said. "It's a block from campus."
The apartments will be roughly 1,800 square feet and similar inside to the Odles' Brookside Townhomes off Old Plank Road, featuring black, granite countertops, crown molding and stainless-steel appliances, Odle said.
The new plan replaces the Odles' earlier proposal, which called for an eight-story building including a grocery store, retail and office space and more than 50 apartments. Their company, Trittenbach Development, applied for and received city approval of tax increment financing for the project. Tax increment financing is an incentive that allows increased tax revenue to be reinvested in the project.
The Odles dropped that plan last November, however, saying the demand for commercial real estate was down, according to a previous Missourian report.
Carrie Gartner, executive director of the District, was happy to hear the Odles are building apartments.
"We are always trying to encourage more residential here in the area," Gartner said. "That was an area that was prime for development."
Gartner said she's excited by the number of residential properties on Tenth Street and believes the Odles' apartments would contribute to downtown.
"They do a very good job of screening and vetting the people that are going into their apartments," Gartner said. "They don't make the type of apartments that get the drywall kicked in once a semester."
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Hey Pat,
Will the TIF money approved for the original project go toward this one?
Hi Jewels! Nice to hear from you and great question.
Tax increment financing will not be applied to this project.
That tax incentive only could have applied to the previous plan that called for an eight-story building with retail on the bottom as agreed upon during the TIF application process.
- Pat
This is great, this area is prime for student and higher end income rentals and condos with above average rents. There are several lots with owners on Locust street, that are looking to do the same if not larger developments, when the right investors come along.
Hopefully this development will attract more projects to the area