Extension of Commencement Date for Parcel A: Uptown Landing - - PowerPoint PPT Presentation

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extension of commencement date for parcel a uptown landing
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Extension of Commencement Date for Parcel A: Uptown Landing - - PowerPoint PPT Presentation

Feb 03, 2024 310 likes •441 views

Extension of Commencement Date for Parcel A: Uptown Landing Office of Economic Development September 3, 2019 Development Agreement Approved - May 9, 2017 Developer agreed to: Purchase 4.6 acres for $300,000 Invest a minimum

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SLIDE 1

Office of Economic Development

Extension of Commencement Date for Parcel A: Uptown Landing

September 3, 2019

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SLIDE 2

Development Agreement

Approved - May 9, 2017 Developer agreed to:

  • Purchase 4.6 acres for $300,000
  • Invest a minimum $25,000,000
  • Minimum 176 apartment units
  • Minimum 15,000 s.f. commercial space
  • Agree to maintenance agreement for public space
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SLIDE 3

Project Milestones

  • Developer agreed to:

Close on property by July 31, 2017 Begin construction on Douglas parcel (B) by September, 2017

  • Begin construction on 1st Street parcel (A) no later

than May 1, 2019

  • Complete project by May 1, 2020
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SLIDE 4

Parcels

Parcel A

Parcel B

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SLIDE 5

Site Plan

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SLIDE 6

Parcel B - Completed

Complete to Date:

  • Parcel B:
  • 19,000+ s.f. commercial
  • 51 high-end apartment units
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SLIDE 7

Parcel B - Completed

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SLIDE 8

Parcel A

Developer working to expand and enhance second phase on Parcel A Requirements:

  • Minimum additional 125 high-end apartment units
  • Proposed new completion date by July 31, 2021
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SLIDE 9

Parcel A – Design Concept

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SLIDE 10

Recommended Action

It is recommended that the City Council extend the Parcel A commencement deadline date to July 31, 2020 for the Uptown Landing project.

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SLIDE 11

Office of Economic Development

Extension of Commencement Date for Parcel A - Uptown Landing