In April, developers of Edgewater Village along Albany’s Willamette riverfront were eager to build more homes. So why no construction activity since the streets and utilities were finished in the spring?
The Albany City Council has yet to decide what if anything to do with a block of vacant land it caused the BNSF railroad to hand over in 2013. But for now a previous benefit of the parcel — overflow parking at the popular Calapooia Brewing Co. restaurant across Water Avenue — has been lost.
Let’s check in once again on Edgewater Village. There, the Albany urban renewal program has just increased its investment in the project, and construction is under way on the first two houses along the Dave Clark Path.
George Diamond says he’d like to continue building units at Edgewater Village near Albany’s Willamette riverfront. And now he can. The advisory board of CARA, the downtown urban renewal district, Wednesday approved a change in a loan agreement that will allow the developer to obtain millions in private bank financing to continue construction.
George Diamond, the developer of Edgewater Village on the Albany riverfront, would like to step up the pace of construction, but on Wednesday the downtown urban renewal board (CARA) had a lot of questions, qualms and quibbles and seemed reluctant to approve a financing change that he needs to get going.
Because it’s on my riverfront bike route, progress at Edgewater Village catches my eye. Now it appears the developers are ahead of the pace required under their latest contract revision with the Central Albany Revitalization Area.
Two projects supported by CARA, Albany’s downtown urban renewal district, are asking for additional time to get them done. The city staff is recommending approval of both, and the CARA advisory board will take up the requests when it meets at 5:15 Wednesday afternoon at City Hall.