Five Red Wing downtown projects are one step closer to helping revitalize our downtown after getting a boost they needed to move forward.
Last week, The Red Wing City Council approved a new TIF (Tax Increment Financing) district to help the projects proceed.
Altogether, the projects would add 144 new residential units in space that was previously vacant in addition to improving a little over 32,000 square feet of commercial space in the heart of downtown.
The projects are spearheaded by the same developer behind the new Avanti building.
The TIF district doesn't involve the City fronting any funds to the project, but it does give the developer financial incentive over time to redevelop these locations because it likely wouldn't be financially feasible to do so otherwise.
TIF District 9-3 includes the following locations:
413-421 Main St. (Boxrud's Building)
323 Plum St. (Eagle House)
325 Bush St. (Chief Theatre)
317 Bush St. (Hallstrom's Building)
110 Broad St. (former Fleischmann Maltery site)
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