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Developer CORE outlines North Downtown land swap, parking deck and 1,400‑bed student project; residents caution on Lay Park access
Summary
Core Spaces presented a development agreement that would swap the 'Butterfly Lot' for a public parking parcel, deliver a minimum 425‑space ADDA parking deck and build a student housing project with on‑site parking; the deal includes a roughly $7.8M inclusionary in‑lieu payment, sewer upgrades and community benefits, while residents urged clearer guarantees for playgrounds, ADA access and voting locations.
Andy Savoy, representing developer Core Spaces, presented a detailed development agreement and timeline for a North Downtown project that would swap the Butterfly Lot for a smaller public parking parcel and deliver a public parking deck plus a large student housing complex.
Savoy said the IGA approved in June authorized negotiating the land swap and that the development agreement contains the operative commitments, including: a minimum 425‑space public parking deck (the development agreement’s Exhibit and budget shows roughly $17.6 million total deck cost), an inclusionary zoning in‑lieu payment of about $7,800,000, relocation of the Hoyt House, a protected historic facade easement to save the Foundry building, at least 1,000 square feet of mural space along Jackson Street, and…
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