by Joel Burgess
Developers are seeking $3.5 million in public assistance from the city and county to build a 250-unit Montford housing complex they say will include rents affordable to downtown workers.
Local developers in Frontier Syndicate got a federal housing loan but told City Council on Tuesday they need tax and other public money to fill a $3 million gap left by lack of willing banks or other private lenders. The total project, planned for the southwest section of Montford could cost $30 million and would provide rentals with prices as low as $600 a month for a 560-square-foot, two-bedroom unit.
The project site is roughly bordered by Montford Avenue to the east, Dickson Elementary to the west and Hill Street and I-240 to the south.
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