The City Council approved the sale of City-owned property at 3923-3929 S Vincennes Ave to KBM Holdings LLC. The buyer, managed by Bonita Harrison, plans to construct two four-story residential buildings, each containing eight dwelling units, totaling 16 new units. The property was sold for $405,983, its market value determined by CBRE. The estimated project cost is $3,285,402. The project is subject to the Affordable Requirements Ordinance, given it involves City land sale for a residential project of 10 or more units. The sale is contingent upon KBM Holdings LLC submitting final construction plans, obtaining all necessary permits, securing financing, and providing due diligence documents. This project aims to create in-fill housing on vacant City land, strengthening neighborhood vitality and expanding housing stock in a transit-served area.