City officials announce they are moving forward with one of two new housing projects in the Downtown Lima area. Two developers presented a $17 million project to add residential and commercial units in the old National Trust Bank building, and a $10 million senior housing project in the former YWCA building. The City of Lima is only contributing $500,000, less than 20% of each project, from HOME funds, or federal dollars used for housing.
An official says they're choosing which project to move forward with based on economic and community development, and they expect it to be done by the end of 2018. "The return, we think, is going to be multifaceted in that not only are we going to be providing housing in the Downtown area, there's opportunity for other commercial development, office development, preservation of historic properties, and also for really creating a catalyst for further ancillary development in the Downtown area," said community development director, Amy Sackman Odum. The City is announcing which of the two projects they are choosing tonight. We will have that information and update the story as that comes in.
