City Council approves tax break for River District affordable housing development

July 9, 2026 - 17:33

The City Council voted Thursday to approve a tax exemption for the Rivana Apartments, a 220-unit affordable housing development set to break ground later this year in the River District. The project will occupy a portion of the 40-acre mixed-use site, which has been a focal point for urban redevelopment efforts.

Under the approved agreement, the developer will receive a property tax abatement for a set number of years in exchange for reserving all units for households earning at or below 60 percent of the area median income. Council members argued the incentive was necessary to make the numbers work, given rising construction costs and high interest rates.

"This is the kind of project we have been waiting for," said one council member during the meeting. "It brings real density and real affordability to a part of town that has seen mostly market-rate development."

Not all were in favor. A handful of residents spoke against the tax break, questioning whether the city was giving away too much revenue for a project that might have moved forward anyway. Others raised concerns about traffic and infrastructure strain in the area.

The developer plans to include a mix of one-, two-, and three-bedroom apartments, along with ground-floor retail space and a community room. Construction is expected to take 18 months, with the first tenants moving in by early 2026. The River District master plan calls for a total of more than 2,000 residential units, along with office and commercial space, once fully built out.