Condos still planned for downtown buildings
Published 9:59 am Wednesday, June 29, 2016
Turning the Brumberg Department Store building into upscale condos is still on the radar, despite losing any chance for historic tax credits. Now the strategy is to team public grants with private investment.
The credits were to be leveraged to help fund the project, but Ironton failed to get the requisite points to win them.
Now economic development leaders are looking to Community Development Block Grants and funds from the Appalachian Regional Commission.
“(The state) understands our dilemma,” Ralph Kline of the Ironton-Lawrence County Community Action Organization, said. “We are working on getting smaller grants to get the roof, façade and windows replaced. Hopefully, with those costs we can get the private sector to get the condos on the inside.”
Applications totaling $450,000 have been submitted with $100,000 expected to come from the CAO.
“It is designed for 15 condos, but if a private sector were to come on board and somebody would want the whole floor that could be arranged,” Kline said. “They could be customized.”
Condos would be in the entire Brumberg building and the upper floors of the Berg Building that currently houses the Transit Center on the first floor.
Prices for the housing would range from $180,000 to $200,000.
“We are trying to be determined to make it happen,” Kline said.