One Park Road

In January 2020, the Council approved a Special Development District for the construction of 295-units of market rate housing for the One Park development by Lex-Laz LLC. The housing will be a mix of historic preservation set in the former Sisters of Saint Joseph convent with an addition on the back to accommodate the remainder of the units. Additionally, 36-units have already been established in the west wing of the property for the remaining order of the Sister. In July, the Council approved a 10-year tax stabilization agreement to ensure this the historic preservation of this key property and so the project comes to fruition. In this approval, the developer agreed to 10% or 30-units as 80% AMI affordable housing for at least 20 years. This is set to be a $66 million investment and is expected to break ground this year.