Luxury apartment units removed from TIF contract
When plans for a new Walgreen's in Alexandria were approved three years ago, the developers had something else in mind as well - 11 luxury, tri-level townhouses behind the store at 10th Avenue and Fillmore Street.
Walgreen's was built but nothing became of the townhouses.
Because of that, the Alexandria City Council voted on September 13 to decertify the housing portion of the tax increment financing (TIF) district that had been approved in 2007.
The Alexandria Economic Development Board recommended the action.
Jason Murray, director of the Alexandria Area Economic Development Commission, noted that the developer, Gendell Partners, failed to meet the 2009 deadline for "substantially completing" the townhomes so the TIF contract was breeched.
The decertification affects only the housing parcels, not the Walgreen property within the TIF district.
The parcels designated for housing will go back on the city's tax rolls as vacant land.