GEORGETOWN — Banking on state and federal subsidies, a development group plans to turn a former cold-storage facility into a multipurpose, three-story building for office/commercial space and workforce apartments.
“What we are trying to provide in (the ‘icehouse’) is a substantial number of apartments that are targeted for what is called ‘workforce housing,’” said Daniel Bond, who represents the group. “That is not low-income housing, and it is not market-rate housing.”
On Jan. 17, the Georgetown Planning Commission approved a conditional use application from DE OZ Property Management for a mixed-use building, with commercial tenants in the basement and on the first floor, and 25 apartments on the second and third levels.
The conditional use will now go before the mayor and Town Council, with a public hearing, at an undetermined date. Then, the site plan review, with all required outside agency approvals, will go back to the Planning Commission for its final decision.
Mr. Bond said the cost of the project would probably be around $15 million. The structure, at 107 Depot St., is in the Downtown Development District, the Georgetown Historic District and the town’s Opportunity Zone.