Feature Illustration: An artist rendering by RBDR, PLLC of the plaza and retail portion of the proposed development.
Posted: 7-22-2021
by Art Benavidez
Waco (McLennan County) — City Council passed an economic development agreement with a Lorena developer to create a new multi-use development at the Oak Lodge Motor Inn site.
The city is providing JKBM Holdings, LLC, the developer, up to $1.3 million through tax increment financing (TIF) for the proposed Dottie Oaks Condominiums, located at 1024 Austin Avenue in the Brook Oaks neighborhood.
Asbestos abatement is required, in addition to demolition of the dormant 21,457 square-foot building, which was built in 1965.
The city would provide JKBM Holdings, LLC an initial payment of $300,000 upon demolition of existing structures.
The remaining $1 million of the TIF would be paid over 10 years, effective upon completion of the project.
The new construction will consist of 23,757 square feet of condominiums, 8,710 square feet of retail, an unspecified square footage for boutique retail and a restaurant, and 16,875 square feet of surface parking.
The proposed site plan shows seven condos with parking garages, 41 parking spaces (19 of them public spaces), two retail buildings that would accommodate five tenants, a courtyard and plaza.
The proposed private improvements will include civil site work renovations, along with the use of structural steel and concrete, installation of antique lighting, landscape streetscape, bike racks and public street parking.
JKBM Holdings, LLC will also replace 735 linear feet of public sidewalk.
Local architects RBDR, PLLC are onboard the project. The current owner of the property is local resident Patel Daxaben.
art@virtualbx.com
