Hamilton considers incentives for downtown fine-dining restaurant, apartments

Credit: Nick Graham

Credit: Nick Graham

More downtown living options are planned for Hamilton, as well as a new fine-dining restaurant.

Later this month, Hamilton City Council members will consider a resolution that would provide a local tier tax abatement through the Community Reinvestment Area for Tandem Ventures LLC, which is owned by Jess Allman of Oxford. The plan is to renovate a vacant building with two store-front addresses, 20 and 26 S. Third St., into eight downtown apartments and a fine-dining restaurant.

The project is estimated to cost $3.94 million and would employ six people for full-time positions and 14 for part-time jobs.

“It’s really going to be a very different restaurant,” said Hamilton Economic Development Director Jody Gunderson. “It’s a sit-down restaurant, certainly with a different feel to it, certainly a different price point.”

Allman told the Journal-News on Friday that Jackelope Spirits will be the tenant operator for the commercial space, and the company has plans for two high-end concepts that feature food and drinks.

Once construction is completed ― which is expected to begin in July and finish in less than a year ― Tandem Ventures must meet the minimum job requirements within three years. In exchange, it would receive a 50% abatement for a dozen years for the restaurant space. The city is also offering a 100% abatement for 12 years for the residential component of the project.

The tax abatement for this project is similar to other projects that include a residential component within the CRA boundaries, including the apartment buildings of Rossville Flats and the Marcum Apartments, Gunderson said.

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