500 on First – 500 1st Street SW
March 8, 2018
Project Location: 500 1st Street SW
Project Highlights:
- 4 story building with 36 market rate studio apartments
- 1st floor – covered parking and common area
- 2nd – 4th floors – 36 market rate studio apartments
- 4th floor – balcony area and workout facility
- $3.8 million capital investment
- Qualifies for the city’s Local Match Economic Development Program
- 10 year, 100% tax exemption
- Total estimated exemption of $602,000 over the 10-year period