Stewart Avenue Ventures LLC is slated to receive over $600,000 in tax breaks for a period of 15 years in return for building in Huntington.
Stewart Avenue will put up a three-story structure on a brownfield site just north of the city’s downtown. Currently, there are two empty structures on the site. One building provided storage for maintenance supplies, and the second housed a lobster business, as well as a drapery and upholstery shop. Others who occupied the site in the past were an ice facility, shops for vehicle maintenance, and a cabinetmaker.
The plan is to raze the existing buildings and construct a three-story structure that will be used for both residential and commercial purposes. There will be 12 dwelling units above the retail space.
The incentives were granted after the developer said they had run into unexpected problems at the site. The “brownfield” designation is used by the Environmental Protection Agency (EPA) to mean a site may have contaminants, pollutants, or hazardous substances present, often because there was prior development there. In addition to cleaning up the property, the developer will have to buy land to providing parking space and grade the property, which now slopes.
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