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Posted on: March 19, 2021

Riverdale Stations Apts. Planning Big Expansion

Another big housing development in the city has plans to get even bigger.

On Tuesday night, the City Council approved a term sheet which outlines the basic business terms for phase two of development at the Riverdale Station Apartments. Sherman Associates is planning to construct another 227 unit market rate apartment building and an 80 unit affordable senior apartment building.

The first two buildings on the site, Nova and Lyra, contain a total of 251 units.

Sherman Associates is likely to request tax increment financing for the senior building. Construction of the market-rate building could begin this year.

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