Business Bites: 18 apartments coming to floors above Mighty Mo; Jah-T’aime closing
Eighteen market rate apartments are coming to the two floors above the Mighty Mo Brew Pub in the 400 block of Central Avenue.
The Northern Lofts will include studio, one- and two-bedroom rental apartments, according to building owners Jason and Brion Lindseth, with an anticipated completion date in early 2021.
The project is being funded by local investors, including Tim Peterson, the architect on the project.
Peterson said many of the wooden surfaces including stair railings are original to the 1914 building and will be restored, as will other components. The windows will be replaced but will be true to the 1914 time period.
He said the investors are pursuing historic tax credits for the project.
The investors said the project qualifies in the downtown Opportunity Zone, which is a federal economic development program established in 2017 to encourage long-term private investment in low-income communities. The program provides a federal tax incentive for taxpayers who reinvest unrealized capital gains into “Opportunity Funds,” which are specialized investment vehicles dedicated to certain low-income areas called “Opportunity Zones.”
Jason Lindseth said the city has been supportive of the project and last week the city approved their construction permit.
Peterson said one of the most costly elements of the project is installing an elevator, which will make the upper floors more accessible.
Brion Lindseth said they hope the apartments will help bring more families and young professionals to the downtown area.
Jah-T’aime Food and Catering, a restaurant in the Columbus Center, announced Wednesday that they’re closing on March 28 after two years.
The owners are moving to Florida to be closer to family, according to their post.
“You all are family too though, so we hope this won’t be goodbye. When you are in Florida send us a shout out…we may cook for you! Again, from the bottom of our hearts, thank you for always supporting us,” the owners wrote in their post.