Trinity Groves is expected to receive more than $3.5 million from the Sports Arena TIF Board to improve sidewalks, redevelop vacant buildings and offset business upstart costs. City Council is expected to approve giving Trinity Groves the $3,505,000 March 26.
Two buildings, at 3011 Gulden and 331 Singleton will be renovated and used as restaurant space. That will cost about $250,000. The rest of the $3.5 million will be spent offsetting “the costs of redevelopment” and encouraging retail occupancy, according to a briefing for City Council members.
Phase 1 of Trinity Groves, 80,000 square feet of restaurant space, Four Corners Brewery and an event space, cost about $42 million and were paid for mostly with the owners’ money. Phase II is expected to cost about $9.9 million and could be finished by June 2015.