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Sunday , May 27 2018
Home | Tag Archives: downtown development

Tag Archives: downtown development

Five El Paso Firms bid to flip City Hall’s Parking Lot to Mixed-Use Urban Development

The City of El Paso is moving forward in the process to seek a private sector partner(s) that will transform the underutilized City Hall parking lot into a mixed-use urban development with structured parking.

Five proposals were submitted in March 2016 and evaluations are currently underway on the multiple proposals received.

Interviews will be conducted in the next few weeks with short-listed respondents. The City will then proceed with negotiations with the top-ranked respondent. The selection of the ultimate winning proposal, which will be decided by late summer, will be based upon what is most advantageous to the City.

“To see multiple proposals come in for this exciting project is a good indication of the continued interest and confidence the private sector has in our city,” said Mayor Oscar Leeser. “We are already seeing a steady influx of activity related to residential, mixed-use, commercial and office developments, and this next project will serve as another major catalyst in our continued economic growth.”

This unique public-private partnership will not only address the parking needs of the City but will also create diverse economic development opportunities.

The City’s request for proposals (RFP), formally released on October 2015, announced the City’s interest in partnering with the private sector for the redevelopment of the current City Hall parking lot which sits on a full downtown block at the corner of Mills Avenue and Campbell Street.

The potential development partner would build on the entire 1.55 acre property in exchange for a ground lease of the site and other potential incentives, ranging from fee and property tax waivers to long term low cost leases. The City requires that the potential partner provide 500-700 parking spaces for municipal and private use.

Development opportunities for the site include, but are not limited to: residential units (for sale or rent), hotel project, ground floor retail, and/or restaurant(s). In addition, the City desires a high density project with an urban format that is architecturally significant and unique.

Additional information on the submitted proposals can be found HERE

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