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Concord/Ratio proposes 160-room hotel, 27 affordable units at College Square with $4M land offer
Summary
Concord/TWG/Ratio presented a College Square redevelopment plan centered on a full‑service, 160‑room hotel and a mixed‑income housing component that would include 27 low‑ to moderate‑income units. The team asked the CIB to accept a $4,000,000 land valuation and said a $12,000,000 subsidy gap remains.
Adam Tice, representing Ratio Design and the Concord development team, presented the Concord/TWG/Ratio proposal for College Square, saying the plan centers on an "arrival" experience with a street‑level hotel entry, a rooftop plaza and direct pedestrian connections to downtown and the B Line. He told the commission the team would seek CIB cooperation and urged preserving convention‑center parking. "In exchange, we would want the CIB to accept our offer for $4,000,000 for that property," Tice said, describing the land‑swap framing of the proposal.
Carl Wren, executive vice president for Concord, explained financing assumptions and identified a $12,000,000 development gap the team said would be required to "make the project work," and noted the team would be open to a mix of incentives, including tax‑increment financing or other subsidies. Commissioners pressed the team on required third‑party approvals, specific parcels outside College Square and allocation of risk. The commission heard the presentation and the team's answers during the public, 20‑minute presentation and follow‑up Q&A; no formal vote on the proposal itself occurred at this meeting.
