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.
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.
It now sounds as though apartments are not in the future after all for Edgewater Village, the private riverside housing development in which Albany’s urban renewal agency invested $2.4 million.
The market is forcing a change in the plans for Edgewater Village, the most ambitious of all the downtown development projects supported by CARA, the Central Albany Revitalization Area.
After checking out the interior of the first units in Edgewater Village over the weekend, I’m encouraged about the prospects of this, Albany’s biggest investment yet in reviving a blighted part of the old downtown.
Another chapter in the long story of Edgewater Village, the planned multimillion-dollar housing development on Albany’s riverfront: The city’s agreement on the project will be modified, and the developer now hopes to start construction of the first house in September.
Edgewater update: Moving day
Time for an update on Edgewater Village, the new neighborhood on Albany’s riverfront that’s on my favorite bike route. A moving truck attracted my attention Monday.
Tags: Baldwin Contracting Inc., CARA, Edgewater Village, George Diamond, Rainie Wheeler