Q&A
Development timeline and next steps
2:30:42
·
82 sec
Council Member Farías inquires about the estimated timeline for development, given the community's long wait for progress on the vacant lot.
- The development won't begin immediately after council approval
- The team needs to find an appropriate development partner and finalize the program
- They will need to go through the Department of Buildings process, which can be lengthy
- The property has been owned since 2015, with significant investment in brownfield cleanup
- The owners are eager to move forward and are not land banking
- Both council members express enthusiasm about the potential development of the long-vacant lot
Amanda Farías
2:30:42
And my last question, does your team have an estimated timeline for development?
2:30:46
Many folks in the purchaser community have seen this block in lot vacant for a long time.
2:30:52
So any timeline update.
Ken Fisher
2:30:59
It's not going to be the day after the council approves the if you do.
2:31:03
Sorry.
2:31:04
We're not you know, we're unfortunately not in a position.
2:31:07
Other developers in the rezoning area may already have been further advanced with their building permits and construction drawings and the like.
2:31:15
We're at the stage where when the rezoning, if the rezoning is approved, we would ramp up.
2:31:21
We're already starting to do it.
2:31:23
Our search find an appropriate development partner, finalize the program, have the consultations with you that we discussed, and then move forward with the Department of Buildings process, which as you know, can be rather lengthy.
2:31:39
The only thing I can tell you is This property has been sitting there since 2015.
2:31:46
They've invested a significant amount of money in cleaning up the brownfield condition.
2:31:51
And I get a call, I would say, probably once a month, now once a week from the client saying, when is this gonna be approved?
2:31:59
They want to move forward with it.
2:32:01
This is not a land banking for them.
2:32:03
This is a development site.