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DeKalb City Council Approves Cornerstone Development Project

DeKalb’s City Council approved rezoning for the Cornerstone Project Monday. 

The rezoning would change properties at 122 S. First St. and 112-118, 122 and 124 E. Lincoln Highway into a planned development commercial district.  The Daily Chronicle reports developer John Pappas wants to build a four-story apartment building, with space on the first floor for local businesses.  Other buildings would be demolished to make space for surface parking.  

Pappas says he'll start applying for demolition permits today, and the project would start within 45 days.  It would cost about $7.5 million, with $3 million expected in tax increment financing.