Rock Ridge Apartment Plans Move Forward
Resolution Passed for 16 Year TIF District
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Plans for the Rock Ridge apartment project have taken another step forward in becoming a reality.
The project consists of renovating and remodeling the old Rock Ridge and Morgan Park Schools into 30 loft style apartments and town homes.
Developers will officially close on the properties June 15.
Meanwhile, the Duluth Housing Authority passed a resolution to create a $2 million, 16 year “TIF” district.
“So the city will actually get that money back even though over that 10-15 year period they lose money on taxes. Once it goes back on a tax role, they will be making even more money than they were before,” said developer, Aaron Schweiger.
Groundbreaking is set for August.