window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'UA-29484371-30');
Friday , May 29 2020
Spring Training 728
Covid-19 Fund 728
PBP_728
john overall 728×90
EPCON_2020 728
Utep Football Generic 728
ENTERPRISE 728
Elizabeth 728
West Texas Test Drive 728
Amy’s Ambassadorship
Mountains 728
Home | News | City Inks Incentive Deal to help Restore Downtown’s Banner Building
Photo courtesy Google Earth

City Inks Incentive Deal to help Restore Downtown’s Banner Building

Tuesday, the El Paso City Council approved a Chapter 380 Economic Incentive Agreement for the renovation of the historic Banner Building located at 215 N Mesa Street.

The building, which sits in the heart of downtown adjacent to San Jacinto Plaza, will now undergo a much needed renovation after today’s approved incentive agreement between the City of El Paso and the building owner, EP Downtown Partners, LLC.

Banner Bldg, ca. 1980 | Photo courtesy Library of Congress
Banner Bldg, ca. 1980 | Photo courtesy Library of Congress

Per the agreement, the building owner proposes to completely rehabilitate the early 20th Century Romanesque five-story structure designed by Trost & Trost at an estimated investment amount of $6.5 million.

This investment amount qualifies the property owner for an incentive package totaling $2,188,668.14.

The building owner plans on using the first floor of the structure for retail and restaurant space. The upper floors will be utilized as office space.

Since 2014, twelve downtown property owners have formed agreements with the City of El Paso resulting in more than $100 million of private investment.

Of those twelve, three are considered historic.

tax info

About Staff Report

Staff Reports are just that, Staff Reporting the news. No skew, no opinion just the news. We pride ourselves on making sure that we bring you the news as soon as it is published, submitted or sent to us. No need to have a reporter rewrite or give their opinion. The facts or information, nothing more.

Check Also

UTEP Grad Student earns top mark in national exam

Claudia Escajeda, a graduate student in The University of Texas at El Paso’s Mental Health Counseling …

Utep Football Generic 728
EPCON_2020 728
Amy’s Ambassadorship
ENTERPRISE 728
Spring Training 728
PBP_728
West Texas Test Drive 728
Get Shift Done 728
john overall 728×90
Elizabeth 728
Mountains 728
Covid-19 Fund 728