EDCKC is proud to support the Historic Northeast Lofts project at Independence Ave and Hardesty. This groundbreaking effort by Arnold Development Group (ADG) will receive a unique, one-time $2 million loan through EDC’s Loan Corporation, as well as tax incentives through Tax Increment Financing (TIF) and bonds issued by the Industrial Development Authority (IDA).
Redevelopment projects such as this not only breathe new life into historic structures, but also significantly strengthen the local economy. By creating a pedestrian-friendly environment with diverse amenities, the development will draw in a steady consumer base, providing opportunities for small businesses to thrive. In addition, it will create 389 housing units, with 80% designated as affordable.
Click here to read more about ADG’s project vision.