Multi-family housing proposed east of Grand Meadows

By Rich Glennie
Correspondent
The Glencoe City Council Monday night approved offering $100,000 for five acres of land east of Grand Meadows on 14th Street to use for multi-family housing. The apartment project would be in the Panther Heights subdivision in the east end of Glencoe.
The housing complex is being proposed by Glencoe Multi-Family, LCC, the same developer that wanted to redevelop the former Helen Baker Elementary School site last year. That proposed project fell apart, but Glencoe Multi-Family continued to look at other sites, according to Assistant City Administrator Dan Ehrke.
Ehrke said the developer looked at several other sites before settling on the Panther Heights 10-acre site east of Grand Meadows. The current plan only calls for use of five acres.
The two-phase project would involve 50 units in the first phase and 36 units in the second phase. Construction could possibly start this year, Ehrke added.
The $100,000 land acquisition is $20,000 an acre or about 46 cents a square foot. The plan also calls for city subsidies for $227,000 in street and utility improvements, and an estimated $43,000 in water and sewer access charges (WAC/SAC) for both phases. Total estimated city costs is $370,000.
The agreement calls for the city to sell the property to the Glencoe Multi-Family for $1.
For more about the proposed development, see the Feb. 7 print edition of The Chronicle.