The City Council on Tuesday night approved a PILOT (payment in lieu of taxes) tax break sought by Trent Development for a planned apartment complex on Highway 58.
Opposed were Chip Henderson and Jerry Mitchell.
The Flats at Fifty Eight is a project costing over $17 million across from Linda's Produce and just up from Central High School.
Alex Trent said rents will range from $595 for two-bedroom and $835 for three-bedroom.
There will be 120 units in the complex that will include a 2,800-square-foot clubhouse with a gym and learning center.
The project also includes a playground, green space, a gazebo and grill.
It will feature nine-foot ceilings and crown molding, it was stated.
Units will have balconies.
The project is to be eligible for an Energy Green certificate, the developer said.
It will be 100 percent affordable workplace housing and will take housing vouchers, Mr.
Trent said.
The Trents have produced 2,600 affordable units, it was stated.
The project is seeking a 15-year tax abatement.
The property now pays $11,000 per year in taxes and will be going to $50,000 per year for the school tax, officials said.
Councilman Larry Grohn said the developer has pledged to hire 20 veterans in connection with the project.