CONSTRUCTION SET TO BEGIN AT ELDER-BEERMAN SITE AS FUNDING QUESTIONS LINGER
(Richmond, IN)--It’s been a while now since demolition of the former Elder-Beerman building in downtown Richmond was complete. There was an update on where the conversion of that space into an apartment complex stands now at Tuesday’s meeting of the Richmond Redevelopment Commission. Here’s Beth Fields with the city: "At this point, the developer, Flaherty & Collins, was waiting on the closure of their redevelopment tax credits with the Indiana Economic Development Corporation before moving forward." Now, though, developers are pushing forward with some work set to begin on June 2. But, there’s a potential complication. "If, for some reason, the IEDC chooses not to move forward on the redevelopment tax credits, that creates a four-million-dollar gap which jeopardizes the project," Fields explained. Construction trailers are set to arrive next week.
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