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Council advances Bloom NKC amendment to adjust ground-floor uses and extend timelines
Summary
Council approved first and final readings to amend the Bloom NKC development agreement, allowing Building 2's ground floor to shift toward predominantly residential units to keep the project viable amid financing challenges; one council member opposed the change, saying it differed from the original proposal.
City staff introduced a first amendment to the second amended and restated development agreement for the Bloom NKC project, saying the developer requested changes to scope and timing to respond to financing headwinds. Staff explained that the amendment would push back deadlines and change proposed ground-floor programming for Building 2 from mixed-use retail toward mostly residential units to keep the larger project moving forward.
A council member objected, saying the mixed-use ground floor with commercial and restaurant space was a central selling point of the original approval and called the amendment a departure from what had been promised: “We bought a pig in a poke,” the council member said, explaining an inability to support the amendment in its current form. The mayor and staff pushed back that the change was necessary given lenders' preferences and that a pause could leave the site vacant for a long time. The council approved placing Bill 7997 on second and final reading and later passed Ordinance 9794 with a roll call that recorded one no vote and the remainder in favor.
Bond counsel and project representatives were present for questions about the related omnibus bond-document amendments (Item 12). The council separately advanced Bill 7998 (omnibus bond documents) to second and final reading and the ordinance later passed.
