Council rezones three parcels for an 80-unit affordable senior housing project pending state funding

The council rezoned three parcels at 4 and 40 West Margaret Avenue and 2929 Arleth Street — part of a roughly 3.1-acre, six-parcel site currently zoned R1 and C2 — to R3 multifamily, clearing the way for developer TWG Development to build Margaret Senior, an 80-unit apartment building for residents 55 and older with 153 on-site parking spaces. ▶︎ 1:24:53 — open the recording, cued to 1 hour 24 minutes 53 seconds

The project depends on TWG winning a competitive state tax-credit funding award — the company applied in July and expects a decision in November — and TWG said it may come back to the council later this year asking for a property tax abatement to help meet a state-required 10% local matching contribution. ▶︎ 1:30:08 — open the recording, cued to 1 hour 30 minutes 8 seconds

If the state funding comes through, TWG said construction would start in mid-2027 and the first residents would move in around the end of 2028. ▶︎ 1:29:12 — open the recording, cued to 1 hour 29 minutes 12 seconds