CCDC MILESTONE: Agency Selects Partner to Pursue Westside VisionDecember 14, 2021
CCDC Board of Commissioners approved a recommendation by Agency employees on Monday, advancing the Block 68 Catalytic Redevelopment Project to transform multiple parcels in the Westside Urban Renewal District. Three development teams submitted proposals in response to the Agency’s Request for Proposals (RFP) issued in May, including organizations based in Oregon, Utah and Missouri. The top-ranked entry envisions a total investment of $330 million in the four-block area, including Block 68.
The recommendation to begin negotiations with top-ranked Edlen & Co., based in Portland, Ore., was unanimously approved by the Board, with one commissioner abstaining. A proposal from PEG Development of Provo, Utah, was ranked second, and Green Street Development of Clayton, Mo. was ranked third by the employee team.
“This is a significant step in the potential transformation we envisioned four years ago,” said John Brunelle, Executive Director. “Garnering three outstanding proposals, executing a deep and comprehensive review process, and a receiving such a strong endorsement from the board are all signs that we’re on the right track. Expectations are high as we enter the negotiation phase, as they should be.”
The Edlen & Co. development team includes three partner entities: deChase Miksis, Elton Companies, and the Treasure Valley YMCA. Edlen & Co.’s phased proposal delivers the most housing, with 450 units in its first phase, double the 225-unit minimum stated in the RFP. The proposal prioritizes the pedestrian experience with specific plans for street-level activation, and it includes a mobility hub and parking structure with 514 total stalls designed with the intent to share between buildings and surrounding uses. The initial phase of the project brings a total investment of $180 million.
All proposals incorporated use of Agency-owned properties at 421 N. 10th St. and 1010 W. Jefferson St. CCDC acquired those properties in early 2018 for the purpose of catalyzing redevelopment. The Edlen & Co. proposal also utilizes $10.5 million from CCDC in Tax Increment Finance, and $10 million from the Agency’s parking fund for the mobility hub.
“We see this as the most qualified proposal that best accomplishes the RFP’s goals for the Agency’s two properties and the larger area,” said CCDC Development Director, Doug Woodruff. “All three development teams were strong, but this proposal stands out in the priority combined categories of sustainability, mobility, catalytic potential, aspirational architecture, and urban design.”
The Agency will begin negotiations with Edlen & Co. and intends to finalize an Exclusive Right to Negotiate (ERN) in the coming months. The final ERN, which is the next step prior to a Disposition and Development Agreement, will could go before the Board in early 2022. The second and third ranked proposals will be considered, in order, if necessary.
Learn more about the Block 68 Catalytic Redevelopment Project.