New Life for An Old Factory!
February 27th, 2015On February 26, Lt. Governor Sue Ellspermann announced nearly $1.2M in state tax credits have been awarded to a project proposed by the City of Jasper and Miller-Valentine of Dayton, Ohio.
The tax credits will be combined with $500,000 of city funds and over $10M of private investment to create 67 workforce apartments in a portion of the former JOFCO plant at 13th & Vine. The area is one of the oldest parts of the city and turning a manufacturing plant into a place more than 60 families can call home is a project of major importance. The rest of 2015 will be used by Miller-Valentine to design the complex and formally secure funding. It is the goal for construction to be within the next 12 months.
It is the first time in Jasper’s history a large former industrial complex will be converted to residential use. The Jasper Downtown & Riverfront Master Plan places emphasis on repurposing hundreds of thousands of square feet of former factories in the city’s core into new uses.