Developer Allied Argenta purchased a 125-unit multifamily housing complex at 11th and Jefferson streets, commonly known as Henry Greene apartment, with plans to invest $17.5 million to renovate the more than 50-year-old complex and operate it as an affordable housing development. In a development and TIF agreement signed in August 2018, Allied Argenta agreed to rent at least 40 percent of the units to resident with Extremely Low Income, as defined by the U.S. Department of Housing and Urban Development, and the remainder to residents with Very Low Income.
In December 2017, the city signed a local participation agreement with Allied Argenta, and Metro Council approved an ordinance establishing a develpment area in December 2017.
Council ordinance (Ord. No. 242, Series 2017)