Details Emerge On Proposed Residential-Retail Development In Springfield

032d915b-41a8-4ade-8896-817fafcd49f1-jpeg
032d915b-41a8-4ade-8896-817fafcd49f1-jpeg

A New York developer is offering more details about plans for a retail and residential development in downtown Springfield near the medical district.

 

Adirondack Community Development plans to build the six-story structure at 5th and Madison, just across from Union Square Park. The ground floor would be retail and commercial, with five upper stories of one- to three-bedroom apartments, with rents ranging from $1100 to $1450 a month. The Lofts on Madison would be geared to toward families, as well as workers in the medical district and downtown areas.

 

The developer is seeking City Council approval to use $4.5 million in TIF district money generated by the project to cover some of the total $28 million price tag. Aldermen will discuss the project next week.

Recommended Posts

Loading...