Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Riverpointe Development topic
No spam. Unsubscribe anytime.
Developer Ryki presents Lot 11 waterfront mixed-use plan to ECDC
Summary
Ryki Properties outlined a three-story, 60-unit mixed-use proposal for Lot 11 in the Riverpointe District, including a potential 10,000 sq ft restaurant and rooftop amenities; the Redevelopment Authority explained why Ryki received the option agreement and noted related projects underway. Commissioners asked about parking, layout and timeline.
Lee Grama, owner and operator at Ryki Properties, told the Economic and Community Development Commission on March 25 that Lot 11 in the Riverpointe District is planned as a three-story mixed-use building on 1.44 acres with about 60 market-rate apartments, covered parking and “a dedicated restaurant” expected to occupy about 10,000 square feet of ground-level space. “We’ve already got 25% of the building leased up,” Lee said, and described rooftop terraces, health and wellness facilities and design choices to maximize river views.
The Redevelopment Authority’s project manager, Jason Gilman, said the RDA owns the Riverpointe parcels and awarded the option agreement for Lot 11 to Ryki because its proposal aligns with the district’s plan to favor residential over retail on the waterfront and to limit waterfront buildings to three stories to preserve views. “Lot 11 is actually part of River Point District parcels that are currently owned by the Redevelopment Authority,” Gilman said, describing Ryki’s prior work on Lot 8 (lofts) and an option on Lot 9 as evidence of the developer’s ability to deliver projects.
Commissioners asked detailed questions about site orientation and parking. Commissioner Markeson sought clarification on which building sits at the northwest corner and whether the restaurant would be on the south side; Lee explained that parking needs required shifting some ground-floor space to accommodate covered parking, which shaped the lobby and retail placement. Commissioner Miller asked about timing and tenant interest; Lee said Ryki aims to break ground as early as July 1 for sitework and framing and noted that full completion for the building shell and interiors would extend through the following spring and summer.
The presentation identified Cowboy Jack’s as a prospective restaurant partner and noted ongoing negotiations; Lee described the restaurant element as still being worked out. Gilman said Ryki has sought testimonial letters from previous partner cities and is exploring renter-equity programs and solar options as part of its Riverpointe proposals.
No formal action on the TIF application was recorded during the meeting; the item was presented for introduction and to allow commissioners to ask questions. The commission moved on to its next agenda items after thanking the developer and RDA for the update.
