The city council established a new Tax Increment Financing (TIF) district at 72nd and France to support the $310 million redevelopment of the former Macy's Furniture and Mattress Gallery site. The city and Housing and Redevelopment Authority committed up to $23 million in combined TIF and SPARK fund support to make the project feasible.

Developers Enclave Companies and Lifestyle Communities will build four new buildings on the site: an 11-story condominium with office and retail space, a 7-story mixed-use apartment building, and two additional 7-story apartment buildings with restaurant space. The project includes indoor parking for residents and employees, public street-level parking, public roadways, sidewalks, landscaping, and will preserve the 9M Creek bicycle trail on the property's southern edge.

The site presented significant challenges that justified the public investment. The property was formerly a gravel and sand pit, meaning most of the land required extensive remediation before construction could begin. "It's an 8-acre site that used to be a gravel and sand pit, so there's really no portion of this building other than what's behind us today that's even buildable," a city official explained. "There's a lot of site preparation that has to happen that's millions of dollars."

The TIF dollars will specifically reimburse developers for site-specific costs that create public benefit, including site remediation, public space development, public parking infrastructure, and affordable housing units. "What we'll be using those TIF dollars for is to reimburse the developer for a lot of those costs that are really unique to the site that create public benefit and make the project possible," a council member stated. The project's public benefits—including exterior public spaces, interior public parking, and affordable housing—will be funded through the TIF investment.