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Q&A on retail spaces and tenant accommodations for 3033 Avenue V project
1:10:31
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Council Member Mercedes Narcisse asks questions about the retail spaces in the 3033 Avenue V project, focusing on accommodations for existing tenants and potential community involvement. Neil Weisbard, representing the property owner, responds to these inquiries.
- Weisbard commits to prioritizing existing tenants for new retail spaces, maintaining current rents adjusted for inflation
- Discusses plans to engage with Nordstrom House tenants about their desires for the project
- Confirms flexibility in the number and allocation of retail spaces, including potential community space
Mercedes Narcisse
1:10:31
So I wanna say thank you to you again.
1:10:34
It's been a long process, and they are currently 8 active.
1:10:38
You know, as a former business person, Amol is caring about the the business.
1:10:44
Because they've been there for so long.
1:10:47
We are currently have 8 active retail tenants on the site.
1:10:51
How many retail spaces will be provided as part of this proposal, and what will be the square footage for each.
1:11:00
That's one.
1:11:01
2nd, please share your commitment to providing the opportunity for existing retail tenants to We occupy the site including plans for keeping commercial rents the same adjusted for inflation, of course.
1:11:18
And the third one, please state for the record your commitment to engage the with Nordran House's tenants to determine what kind of hotel they want to see as part of this project because they're next to this development.
1:11:38
Thank you.
Neil Weisbard
1:11:39
Thanks for your question.
1:11:40
I'll start with Ocean House's Tennis Association.
1:11:43
Your office has provided me with contact information.
1:11:45
I've sent an email.
1:11:47
To try to meet with them, just have not arranged that yet.
1:11:51
And as you know, we've submitted a letter to your office as well indicating that that we will meet with them.
1:11:56
The commercial spaces, we're not sure how many they will be, but I can the commitment of ownership is to provide the existing tenants with priority for those spaces.
1:12:06
So if all 8 tenants wanna occupy the building, there will be 8 spaces for them, and they will be at current rents or as it just for inflation as you stated.
1:12:15
And as you know, and just for chair Riley, the ownership has signed a commitment letter, evidencing that as well, and provided that to your office.
Mercedes Narcisse
1:12:27
The other concern that I have, it's for the Nordstrom houses.
1:12:37
If we gonna have that for them to have an opportunity as well, for the retail space Yes.
1:12:43
Because they write across.
1:12:45
And the we have 8 active tenant.
1:12:48
Right?
1:12:49
So how many at least minimum the space that you're gonna have right now?
Neil Weisbard
1:12:53
So the the delineation of spaces hasn't been fine yet.
Mercedes Narcisse
1:12:57
There's a couple of
Neil Weisbard
1:12:58
1000 square feet of commercial space, and we will accommodate the existing tenants if they wanna return.
1:13:06
And if no warehouses tells us we have this great idea for community space, then that will be taken into account as well.
1:13:12
And one of the spaces would be dedicated to them.
Mercedes Narcisse
1:13:15
Thank you so much.
1:13:16
Appreciate your time, and let's do it.