C
ity officials in Batesville are set on attracting more young professionals to the downtown area.
Council approved a10-year tax abatement for RomWeber Flats, as developer Bruce Rippe begins an apartment project strategically aimed at providing local living space for employees at top local corporations.
The plan is to construct 45 apartments that will offer unique amenities including a tanning and exercise area, community rooms, and storage lockers. Rippe says the rent will be in the range of $800 to $1,000.
The $6.6 million project will include one and two-bedroom apartments that will be energy efficient with utilities cheaper than in other locations, Rippe added.
“The project can fill a [need] that is here or really anywhere in Southeastern Indiana,” Rippe said. “Between Cincinnati and Indianapolis there is nothing really like this.”
“It is a really important element to success of major employers to have talent living in Batesville rather than commuting.”
The 10-year abatement was approved unanimously by council members. The next step for Rippe is to finalize financing on the project. He says construction could start by the end of 2014 and may take a year before completion.
