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Councilors back appraisal to advance 138-unit Johnson Vocational Center redevelopment
Summary
City staff told councilors they plan to commission an independent appraisal to verify the value of the Johnson Vocational Center property at 200 Park Avenue before advancing a proposed 65-year ground lease for a 138-unit mixed-income redevelopment.
City staff told councilors they plan to commission an independent appraisal to verify the value of the Johnson Vocational Center property at 200 Park Avenue, a step staff and councilors said is needed before advancing negotiations on a redevelopment proposal that would create about 138 housing units under a long-term ground lease.
The property discussion arose after the city issued an RFP for several surplus school district properties. Staff said multiple responses were received and the city advanced the most viable proposal: a mixed-income development with housing above a podium containing parking and ground-floor commercial space. Staff said the preferred proposal would allow the city to retain long-term control of the asset while securing consideration for…
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