By Brandon Peoples brandon@1350kman.com – Jun 18, 2025
A new housing development on Moro Street is moving forward after city officials on Tuesday unanimously supported a resolution and economic development agreement with Midtown Holdings, LLC.
The developer is planning an $800,000, five townhome project at 716 Moro called “Moro Flats.” The project will receive $80,000 in the form of a workforce housing sales tax grant and a property tax abatement for 10 years, totaling a little over $10,000 annually.
Manhattan director of community development Stephanie Peterson said the abatement will be based on performance.
“Both the amount invested in the project as well as the number of units that are leased, the property owner or the developer will continue to pay property tax based on this schedule,” she said. “There’s about a 5% increase each year.”
The agreement also requires the developer to begin the project within the next 12 months.
The Moro Flats project is one of two planned housing developments planned on Moro Street. The other will be at 1000 Moro Street.
The city had $712,000 in available sales tax funding for workforce housing initiatives as of May.
