The east side includes the 200,000-sf, former Gates Rubber's world headquarters. The building is now vacant, but in good shape and likely will be one of the few buildings on the east side to be saved, says Bruce O'Donnell, who spearheaded the rezoning for Gates.
O'Donnell, principal of Starboard Realty Group, notes Gates will not develop the site itself. Instead, it will rezone the property, and will sell it to a developer.
He says it's important for the city and surrounding neighborhoods to have a plan in place for both sides of Broadway, rather than have Gates come in a few years later and ask to rezone the property.
Twenty acres of the site would be rezoned into what is known as T-MU-30. This transportation-oriented zoning allows the greatest density.
Gates is requesting RMU-30 for the area south of Mississippi between Lincoln and Broadway. RMU-30 allows for a mix of retail and commercial uses.
The north half of the block of Lincoln, Sherman, Grant and Logan between Mississippi and Arizona, would be zoned as RMU-20, allowing fewer commercial uses and providing a transition into an adjacent neighborhood.
The south half of the same area would keep its R-2, or residential zoning.
O'Donnell estimates over the next 20 years, the site, which will be "smack dab in the middle" of two light rail stations, eventually could support 3.7 million sf of space. That would include 1,500 multifamily residential units, 100,000 sf of retail and 800,000 sf of office.
"Obviously, we don't need any new office space in today's market, so it primarily will be residential driven," O'Donnell tells GlobeSt.com.
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