City to review proposals for downtown site
A trio of companies submitted proposals for developing property at the corner of Broadway and Englewood Parkway and the block-long parking lot facing the 3400 block of South Acoma Street.
The Englewood Urban Renewal Authority owns the parking lot and about half the lot fronting on Broadway and Englewood Parkway. The city owns the other half of the frontage lot.
The two owners agreed earlier this year to put out a request for proposal for development of the site.
“We received 45 requests for information about the site, but we only received three proposals by the deadline. While specific details of each proposal are different, all three proposals would develop a project of mixed use retail and residential development,” said Alan White, community development director. “The site is currently zoned commercial, which would allow mixed retail and residential development.”
One proposal would construct a trio of three-story buildings with retail on the Broadway-Englewood Parkway frontage and about 75 apartments.
The second proposal would construct three-story buildings to house retail on the Broadway frontage plus about 48 townhomes. There were three mixed use options as part of the proposal.
The final proposal would be two-phase construction. Phase one would be a two-story building with 10,000 square feet of retail space on the Broadway frontage and a roof deck restaurant. Phase 2 would be a four-story building with 100 rental units and retail space facing Acoma Street.
Proposed purchase prices range from $600,000 to about $1.4 million. There is also suggestion of about $800,000 for a 75-year ground lease.
Mayor Pro Tem Jim Woodward, who is council liason to the EURA, told the city council at the April 22 study session that the authority would like to get a committee together to review and evaluate the proposals. He said the authority is asking for two council members to be part of the committee that would attend the first meeting April 24 and future meetings until a proposal is accepted.
The council agreed Woodward and Councilmember Joe Jefferson would serve on the committee. Councilmember Rick Gillit will substitute for Jefferson at the first meeting, scheduled for April 24.