RomWeber Flats developer Bruce Rippe asked Batesville Economic Development Commission members for a 10-year tax abatement as he prepares to begin the third phase of development there.
The 45 apartments “will be geared to young professionals, and we’re also looking at seniors who are overqualified for living in the phase 1 or phase 2 (units) .... We will be able to see a mix of those two groups,” he pointed out.
“There will be some really nice amenities, a lap pool, exercise room, cyber café and a lot of community space. It will be something unique to this area .... (the apartments) will be very energy efficient” just as they were for the first two phases.
The cost for the one- and two-bedroom apartments will be about $700-$1,000 a month, he revealed. “They will be built to the north of where phase 2 is now, and that will complete the Depot Street section in the west building.” The cost for the project will be about $6.6 million.
Member Gene Lambert revealed his thoughts: “It’s a huge promotion for our downtown, and there has been a lot of emphasis on improving the quality of life .... It’s a major investment, and we’ve given Bruce tax abatements in the past .... I think this is very positive for the community.”
President Andy Saner noted, “I support the 10-year abatement. It’s one of those opportunities that does have a ripple effect with bringing more people to town, and it supports what we are working with. I think it’s a very, very good project for us to be supportive of.”
The group unanimously gave consent for a 10-year abatement. It will now go before city council for approval.
Saner said plans for the construction of the shell building in the new industrial park at Lammers Pike and Merkel Road are moving along. “If everything falls into place, we’re looking at the first week of August as a time when we could be breaking ground, but realistically, it’s probably 30 days beyond that .... but we’re getting very close, and I’m excited to hear that. By spring of next year, it will be completed.”