A more than 50 year-old building in downtown El Paso may soon see an extensive renovation spurred in part by just under $3.2 million in tax credits.
Members of the El Paso City Council have approved the credits for what is being called “Project Trinity,” a redevelopment of a 220,000 square foot building at 300 E. Main Street.
Those credits are coming in the form of a property tax rebate and construction materials sales rebate, as well as an overall city incentive of $2.4 million to be applied over a 10-year period.
The El Paso-based Summit Investment Group wants to repurpose the 13-story building as a mixed-use development.
According to city documents, the project will see a combination of retail space, offices, and event space on its ground floor, while some 80 new multi-family units will be built on floors two to thirteen.
The building is connected to the 12-story Hotel Indigo, formerly known as the Artisan Hotel, a structure built in 1963 that was redeveloped four years ago.
By Garry Boulard
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