Henderson could be step closer to new loft apartments - Toledo News Now, Breaking News, Weather, Sports, Toledo

Henderson could be step closer to new loft apartments

Posted: Updated:

If the Henderson City Commission approves one man's request on Tuesday, the city could be closer to having new loft apartments. 

Dr. Thomas Logan has asked the city commission for a tax moratorium on an old abandoned warehouse that sits on the corner of South Main and Hancock. The building has been unused for at least 20 years.

Dr. Logan says he plans to spend more than a million dollars converting the 36,000 square foot building into loft apartments over the next two years. 

If he gets the moratorium, he will pay property taxes on the warehouse's current value of $110,000 for five years. 

Mayor Steve Austin says moratoriums give developers a chance to get set financially. He expects to see Dr. Logan's request approved.

"It just gives another option to people that want to live in our community, for college students that may want to come back and live in our community and live in that kind of loft environment. I think it's just opportunities," Austin said. 

Officials will make the decision on Tuesday night at 5:30 p.m. at the city commission meeting.

Copyright 2013 WFIE. All rights reserved.