Maryland– Properties that are located in Baltimore’s Market Center National Historic District are for sale and development. The city is seeking a developer to buy and make over the following vacant properties:
-114 W. Lexington Street with land area of 1,793 square feet and a 3-story structure.
-116-120 W. Lexington Street with land area of 4,027 square feet and a 3-story structure.
-207-209 Park Ave. with land area of 912 square feet and a 4-story structure.
The Baltimore Development Corporation’s (BDC) request for proposals (RFP) states that respondents may bid on the entire offering or parcels on an individual basis, but redevelopment of all properties by a single team is preferred. The site is eligible for the 10-year High Performance Tax Credit for market-rate rental housing and is located within the city’s Enterprise Zone. The properties may also be eligible for the Commission for Historical and Architectural Preservation tax credit for historic rehabilitations and restorations, as well as for several state and federal tax credits. The BDC will hold a pre-proposal conference on-site at 114 W. Lexington Street at 10 a.m. on March 13.
Texas– The Capitol Complex Master Plan in Austin is taking place in three phases and will consolidate several state agencies within the 50-block Capitol Complex area. The state’s Partnership Advisory Commission recently signed off on the public-private partnership (P3) policy for the plan. The first phase is estimated to cost $581 million and will add about 1 million square feet of office space, a five-level underground parking garage and a grassy open-air mall on Congress Avenue between the north steps of the Texas Capitol and Martin Luther King Jr. Boulevard.
The Texas Facilities Commission has outlined two new office buildings in the project: a 14-story office tower with 600,000 square feet of office space and a 12-story, 400,000-square-foot building. Joint projects with private companies or a public entity will be vetted early through the city and state channels based on a value-for-money proposition. A developer would have to deliver a project that can be done better or more economically than the state. Revisions to the preliminary P3 policy are published on the Texas Facilities Commission website.
Virginia– Members of three leading city of Falls Church groups are moving ahead on the George Mason High School campus and 10-acre commercial development projects following the approval of a $120 million bond earlier this month. The timeline on the school begins with the school board issuing a request for qualifications (RFQ) for school design and construction. The next step is to approve a list of respondents by February and issue a request for proposals (RFP) for school design and construction. The final contract is slated to be approved by July 2018 and the final school design will be ready by July 2019, with the notice to commence with the construction also coming that month. City officials plan to open the new George Mason High School in the summer of 2021.
The city council is simultaneously planning a 10-acre commercial development that would commence fall of 2021. Approval of the Comprehensive Plan modifications will be due by February 2018 and the issuance of an RFQ for economic development is also due in February. The project will require another $10 million bond to be approved in the May 2018 election. If approved, the city can issue an official RFP and work to obtain the rest of the financing needed to complete the project.
ouisiana- The city of New Orleans expects to spend $15 million to convert Esplanade Avenue and Gov. Nicholls Street wharves into the final major piece of a 3.2-mile-long Tricentennial Park consisting of a variety of riverfront projects. The city swapped the Public Belt Railroad to the Port of New Orleans in exchange for the two commercial wharves. The agreement between the Public Belt Railroad and the port, directs the port to work toward the creation of an economic development district that would include the riverfront from Spanish Plaza to Bywater, but exclude any port facility within that area, such as the cruise ship terminal at the downriver end of Bywater.
While the plan for now, calls for mostly open park space along the riverfront, the city is not ruling out the possibility for revenue generating facilities. A proposal is in place to create an economic development district that would cover the area, allowing the city to gain additional revenue from any attractions that may be built there.
Other parts of the overall riverfront redevelopment include a new $37 million ferry terminal at the foot of Canal Street, a $7.3 million pedestrian bridge to the terminal over the Public Belt Railroad tracks, a $400 million redevelopment of the World Trade Center into a hotel and condos and a $7.5 million refurbishment of Spanish Plaza. The series of projects will be completed over the next several years