Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Real Estate Development topic
No spam. Unsubscribe anytime.
Staff says Bridal Building development plan submitted; council discussed revisions in closed session
Summary
City staff reported the Bridal Building development plan has been submitted for building-plan review and that the council discussed amendments to the development agreement in closed session. Staff said they expect a revised development agreement at an upcoming council meeting and aim to close on the property by early June.
City staff reported that the Bridal Building development plan has moved forward and that the developer has submitted building plans for review, while amendments to the development agreement were discussed in closed session.
"The public record is that they've gotten their development plan, the specific implementation plan was approved by council last night and the building plans were submitted to staff for the building plan review yesterday or earlier this week. So that building plan still needs to be reviewed," said Alan, a staff member. He added that proposed amendments to the development agreement were discussed in closed session and staff expect a revision to appear on a forthcoming city council agenda. (Transcript lines 531.255–566.42)
Why it matters
Board members asked when construction would start; staff said closing on the property has not yet occurred because the parties are still negotiating amendments to the development agreement. A staff member (unnamed in the transcript) stated the city's goal is to close on the property by June 1 and signaled confidence that a groundbreaking would follow soon. The transcript records an approximate developer investment to date of about $500,000 in predevelopment work. (Transcript lines 594.52–613.905)
Anchor tenant and project scale
Staff said the food co‑op — described in the meeting as the project's intended anchor tenant — reached its fundraising goal, and the co‑op will locate at Jackson and Pearl, not on the riverside parcel. The board was told the Bridal Building design has increased in scale from two stories to five stories relative to earlier concept plans; staff said that change will be reflected in the development agreement. (Transcript lines 614.385–663.165)
What remains to be decided
Staff noted the building plans are pending city plan review and that the development agreement revisions discussed in closed session must be finalized before the city can complete the property closing and the project can proceed to construction. The staff comments did not include a firm groundbreaking date. (Transcript lines 524.561–573.52; 587.215–593.66)
Ending
Board members asked for updates; staff said they will continue to work with the developer on agreement revisions and building-plan review and will report back to council when revisions are ready for public agenda review.
