Colin Tarbert, chief executive of the Downtown Investment Authority, on Monday presented four massing schemes for the 2.6‑acre 330 East Bay Street site and the adjacent Hyatt North parcel, saying scheme 3 — an incremental, phased approach that minimizes immediate structured parking — is the staff preference.

Tarbert said scheme 3 would allow development of a smaller, 0.8‑acre first phase with hotel, office and retail uses and defer larger structured parking to a later phase. "Scheme 3 was the preferred 1," Tarbert said during his presentation, adding the configuration reduces upfront parking costs and allows the market to strengthen before committing to large garages.

The schemes show a range of program sizes: one option included about 120,000 square feet of retail, 170,000 square feet of office and roughly 285 residential units on the riverfront parcel with a parking structure exceeding 1,000 spaces; other schemes trade off hotel keys, residential units and garage footprint to change the riverfront presence and skyline effects. Tarbert said the Hyatt North parcel concepts range from roughly 300 hotel keys to higher‑density residential builds depending on the scheme.

Why it matters: the site links the downtown core to the expanding sports and entertainment district and to upcoming Shipyards West work. Council members repeatedly pressed DIA staff to preserve the Bay Street corridor’s intended entertainment and retail character and to protect the council’s $30 million allocation targeted to the corridor.

Council response and parking debate: Council President Keriko and other members asked whether the Hyatt retains a right of first refusal on the adjacent lot. Tarbert said he has reviewed the documents but has not yet met with Hyatt and intends to follow up. On parking, several members urged reliance on existing assets such as the underused Yates Parking Garage rather than building duplicate garage capacity; Tarbert said he agrees and that valet or resident parking arrangements and temporary surface parking are possible interim solutions.

Next steps: Tarbert said DIA plans to draft a notice of disposition for only a portion of the site to test the market and has issued a separate request for proposals seeking third‑party financial consultants to evaluate proposals and market viability before council action. He estimated a roughly six‑week solicitation window after board feedback.

Context and caveats: Tarbert emphasized the renderings are illustrative; the final program will depend on proposals received, market conditions and council direction. He said the phased approach reflects a conservative market view and aims to avoid overbuilding structured parking in a market he described as still soft for very large‑scale projects.

What’s next: DIA will share a draft notice of disposition with its board, and any incentives or incentive conditions would return to city council for approval.