City of Mercer Island wants P3 for mixed-use development

Washington State- The city of Mercer Island is offering incentives for a private developer to build a mixed-use residential development and public parking garage. The city will provide $2 million and the land for the development. The project is located across the street from a light rail station that is scheduled to open in 2023. The three-quarter acre development site at the intersection of Sunset Highway Southeast and 80th Avenue Southeast includes the city-owned property and a former coffee house.

The city plans to rezone the property to allow a five-story development with ground-floor restaurant and retail space. Request for qualifications (RFQ) for this public-private partnership (P3) are due Oct. 5, with city tours of the site set for Sept. 11 and 20. Attendance is mandatory for anyone who plans to submit an RFQ.

Port KC selects firm for P3 counsel

Missouri– The Port Authority of Kansas City (Port KC) Board of Commissioners approved the selection of a private firm to be the lead partner on a public-private partnership (P3) project. The firm will advise Port KC staff in the formation of a successful P3 to develop the Missouri River Terminal (MRT). This is the latest step in Port KC’s plan to transform 415 acres of land along the Missouri River, which is the site of a former steel mill, into a full-scale inland intermodal port.

 

The Port KC has determined the P3 model provides the greatest potential to create an intermodal inland port and sought to obtain expert services from the project’s inception. Port KC anticipates the next step will be to seek a financial adviser and begin the pre-procurement process with the selected firm’s assistance.

Construction starts next year on National Western Center

Colorado– A collaborative project between the city of Denver, Denver County, Colorado State University and the Western Stock Show Association will transform the stock show campus along Interstate 70 into a year-round destination. The first two phases of construction, costing $756 million, will stretch over the next seven years for the National Western Center. The redevelopment will preserve historic buildings, connect the site to the South Platte River and surrounding neighborhoods, and potentially create one of the largest campuses to be powered by renewable energy.

 

Major assets within the National Western Center’s first two phases will include redevelopment of the stockyards, construction of a 508,000-square-foot, year-round Equestrian Center with 1,050 below-grade parking spaces, and a Livestock Center, including an equestrian barn and arenas. When not in use for the stock show, the 325,000-square-foot Livestock Center will provide multiuse space for small concerts and other events.

 

The final piece to the National Western Center, a 60-acre parcel known as the Triangle, will include construction of a new 10,000-seat event center to replace the Denver Coliseum, along with a Trade Show and Exhibit Hall, structured parking and renovation of the historic 1909 Stadium Arena into a new use. A request for qualifications is expected to go out late this year. National Western Center partners will be looking for innovation and creativity to deliver the required and associated uses on the Triangle site. The hope is for the county to start breaking ground on the projects as early as 2019.

Atlanta BeltLine considers P3 for housing/transit projects

Georgia– Amid a leadership switch, Atlanta BeltLine Inc, the city’s urban redevelopment program is rethinking how it will create its new housing and transit plans. In 2005, the agency set a goal to build 5,600 affordable housing units within the BeltLine Tax Allocation District. The project has a deadline of 2030. So far only 1,600 homes have been constructed.

 

Now, officials are considering a public-private partnership for the development. Twelve years into the 24-year project and only $600 million of the $5 billion for the project has been spent. About $3 billion of that price tag was the cost of adding transit along the BeltLine. The project will need to build 300 to 400 homes per year to reach its goal in addition to developing its transportation component. The Beltline organization plans to have a specially-called meeting in the next couple weeks to figure out the next steps.