Riverside issues RFP for mixed-use development

California- The city of Riverside has issued a request for proposals (RFP) for a mixed-use development, on 7.6 acres of city-owned land, which will bring more hotel rooms, market rate housing, retail and restaurant space, and structured parking to the area. A portion of the site, located at 3460 Orange St., is currently occupied by Encore High School until May 2020. The Encore-occupied building is approximately 21,500 square feet and the city expects the selected proposer to demolish the structure upon Encore’s closure.

The developer will also expand the existing Riverside Convention Center, under a public-private partnership (P3), by 100,000 square feet to improve the city’s ability to attract larger conferences. The city envisions the project’s hotel being constructed over the convention center expansion area and construction of a new parking garage to replace existing surface parking stalls. The due date for submitting proposals is Dec. 18.

Frisco ISD to place $691M bond request on ballot in November

Texas- The Frisco Independent School District will be putting a $691 million bond before voters this November, with $43 million set aside for a new performing arts center. This bond election comes in the wake of a similar failed measure in 2015. If the city and the school district decide to partner on the project, up to $57 million would be offered as incentive for a developer to take on the performing arts center as a public-private partnership (P3).

The two entities are inspired by actions taken by the city of Lubbock that recently opened the Buddy Holly Performing Arts Center by way of a P3. The facility includes a 2,200-seat main theatre, a 425-seat studio and a multiuse room. Officials are convinced that the project does not need to be taken on using 100 percent of city funds, nor does the center need to be managed by the city. Two locations within Hall Park are being examined as possible sites.

MARTA expansion will need P3 funding

Georgia– The Metropolitan Atlanta Rapid Transit Authority (MARTA) system expansion plan will include more light-rail expansion. A revised proposal now includes more rail as well as leaning on other sources of funding beyond public funds. The new plan aims to build a zigzag of light rail through the city from Greenbriar, along parts of the BeltLine, to the Emory/Centers for Disease Control area.

 

The new plan also adds more rail in southeast Atlanta and on the west side and has the so-called “Clifton Corridor” line up to Emory. This is contingent on its supporters finding more money, which opens the door for a public-private partnership (P3), to see the project to fruition. Completion of the full 22-mile loop is slated to cost $11 billion, a number that is not even close to being covered by Atlanta’s 40-year half-penny sales tax worth only $2.5 billion. The next official step is a vote by the MARTA board scheduled for Oct. 4.

Upgrades needed at Jack C. Fisher Park to increase tourism

Kentucky- A study was performed recently on Jack C. Fisher Park and results showed that infields of the four diamonds at the park need to be replaced with artificial turf and that a 60,000-square-foot indoor sports facility be built in either central Owensboro or on the east side of town. The indoor facility proposed by the study would have four hard-floor courts. The Owensboro-Daviess County Convention & Visitors Bureau (CVB) is the agency that commissioned a firm for the study to show that the community needs sports facilities.

The CVB wants the sports proposal handled through private development. The goal of the CVB is to increase visitors filling hotel rooms and to bring in more funds than the $30 million the city makes annually on sports tourism. The city’s parks and recreation department is also performing a study that should be ready in October that estimates the cost to renovate the park.