Development project meeting scheduled
Medici Communities was selected to develop the site and Tony Gladwell, Medici’s project manager, as well as other company representatives will be at the meeting to discuss the proposal and answer questions.
The development would be constructed on the 1.8-acre site that includes the vacant lot on the corner of South Broadway and Englewood Parkway as well as the land west of the alley along the 3400 block of South Acoma Street
The Medici concept of the mixed-use development is to construct an 8,600-square-foot restaurant site on the corner of Broadway and Englewood Parkway that would be part of the total of 23,500 feet of commercial space to be included in the project.
The residential portion of the project would be 114 for-rent apartments contained in a five-story building along Englewood Parkway and a three-story building along Acoma. Fewer than half of the apartments would be rented at costs the local workforce could afford, and the remaining apartments would rent for market value.
To provide parking for residents and the businesses along the west side of the 3400 block of South Broadway, there would be a parking garage with 176 spaces, plus 32 surface parking spaces. The estimated cost to build the project is $24.8 million.
The Englewood Urban Renewal Authority has owned the Acoma parking lot and about half the lot fronting on Broadway and Englewood Parkway since mid-1980s. The city owns a 50-foot-wide parcel facing Broadway. Discussions are underway for the authority to buy the land from the city. Then the EURA can begin discussion to sell the site to the developer. Plans are for the project to be completed in 24 months after the developer’s land purchase is final.
The latest process to develop the Broadway/Englewood Parkway land and the parking lot began early this year, when the authority and the city council agreed to put out a request for proposal for development of the site.
In an earlier EURA meeting on the project, Alan White, community development director, said there were 45 requests for information about the site, but only three development proposals were received by the April deadline. He said one proposal was eliminated from further consideration because it didn’t meet EURA evaluation criteria. He said that, while the specific details of the final two proposals were different, both proposals would develop a project of mixed-use retail and residential development, which would be allowed since the proposed development site is zoned commercial.