A development group will share its plans to turn the Board of Trade Building into a mixed-income apartment complex during an 11:30 a.m. meeting Tuesday in Room 303 of Duluth City Hall, 411 W. First St.
Naganat Guru, a partner in the Dubin Guru Group, called the Board of Trade Building “one of the most iconic buildings” in the city and said his firm “specializes in the adaptive reuse of older buildings.”
The Board of Trade Building, 301-307 W. First St., was designed by one of Duluth’s most renowned architects, Oliver Traphagen, and was built in 1895.
Any members of the public who are interested in learning more about the proposed redevelopment of the building are invited to attend Tuesday’s meeting.
As envisioned, the project would lead to the creation of 84 apartments, including studio, one-bedroom and two-bedroom units. The developer proposes for 17 units to be offered at reduced rents to people earning 50 percent or less of the area median income and another 67 units would be available for people making about 80 percent of the area median income.
The Dubin Guru Group is seeking tax-increment financing assistance for its project, and the Duluth Economic Development Authority is expected to consider that request when it next meets at 5:45 p.m. Wednesday in council chambers at Duluth City Hall.