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City manager: top 3 developers invited back for Hampton Road Corridor RFQ
Summary
City staff reported seven proposals were received for the Hampton Road Corridor RFQ; the evaluation team will invite the top three firms back for in-depth interviews on the 15th and 20th of the month and will report back to the DDC and city council.
The city manager told the DeSoto Development Corporation board that the Hampton Road Corridor redevelopment RFQ drew seven strong proposals and that an evaluation committee—composed of internal staff and external advisors including a financial adviser and real estate attorney—has selected the top three candidates for further, in-depth conversations.
"We're gonna invite the top 3 proposals back for very in-depth conversations about the type of investment that they're committing to, the type of incentives that they're asking the DDC board and the city for, the type of design parameters..." the city manager said, and indicated those meetings were scheduled for the 15th and the 20th of the month, with a possible update to the city council on the 21st and a DDC update the following month. A board member asked whether the March 30 selection deadline had been missed; staff responded the prior interviews were completed and that the process may take another 3–4 months to negotiate a development agreement once a preferred developer is selected.
