City Manager John Szerlag said to jump-start the project, 11 acres of city land must be sold for the development. He said the City Council has directed him to create language for the public to vote on the proposal. "It's my understanding the council would want to have the vote during the city's next general election in April 2004," Szerlag said.

The move was made after six local developers reviewed city development plans for the property, according to Szerlag. Most of the developers believe a performing arts theater portion of the project, which also includes a large conference center and hotel, should be removed or set back as a second phase. The developers include: Acquest Realty & Management, Frankel Associates, Garfield Taub Development, Hines, Liberty Property Trust and the Marriott Corp.

The Downtown Development Authority has proposed a conference center of 100,000 sf to 250,000 sf, a hotel with up to 400 rooms, a 5,000-seat performing arts theater, up to three restaurants and up to 6,000 sf of retail space. Public space would include an amphitheater, water elements, landscaped festival areas, a skating rink, trails and benches. A 100,000 sf office building was proposed, but the city council rejected that part of the plan for now.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.