Title
Conduct a Public Hearing to Discuss the Proposed Redevelopment of Approximately 9 Acres of City-Owned Property in the Downtown Area
Summary
COUNCIL GOAL: Enhance the Quality of Life in Downtown McKinney
Direction for Strategic Growth
MEETING DATE: November 3, 2015
DEPARTMENT: Planning
CONTACT: Matt Robinson, AICP, Planning Manager
Brian Lockley, AICP, Director of Planning
Michael Quint, Executive Director of Development Services
RECOMMENDED CITY COUNCIL ACTION:
* Conduct a public hearing to consider and discuss the proposal.
ITEM SUMMARY:
* Columbus Realty Partners, LTD. has completed an exclusive 120-day negotiation period for the redevelopment of the City-owned 9 acre property located at the Southwest Corner of Davis St. and McDonald St. (State Highway 5).
* As part of the exclusive negotiation period, Columbus Realty Partners, LTD. was asked to create a development proposal that followed the parameters outlined in the City issued Request for Qualification (RFQ #15-024) which were:
Minimum Development Expectations:
* 50,000 square feet of Office Uses;
* 20,000 square feet of Retail, Restaurant, or similar uses;
* 300 Residential dwelling units;
* First phase of the development providing a mixture of land uses; and
* Any structured parking facility(s) constructed on the site would accommodate some reasonable amount of public parking space allocation.
Role of City:
* Primary incentives to come in the form of:
o Discounted or no-cost land conveyance;
o Off-site infrastructure improvements; and
o Potential tax abatements
* Columbus Realty Partners has worked with City staff to develop a Land Plan for the redevelopment of the approximate 9 acres of land, that would include new residential, commercial and office uses in a planned compact and pedestrian-walkable design.
* As shown in the attached Proposed Land Plan, Columbus Realty Partners, LTD. are proposing to include the following elements withi...
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