City Studies Expanding Broadway Redevelopment Area

 

 

Mayor Mark A. Smith announced that the City Council approved an Administration proposal to expand the proposed Broadway Redevelopment Area. That area is bounded by the west side of Broadway, West 23rd Street, West 24th Street, and Del Monte Drive. At its meeting on March 19, the Council backed a resolution proposed by the Administration to add a City-owned parking lot to that area. The parking lot is located to the rear of the properties that front on the west side of Broadway between West 23rd and 24th Streets.  In January, the Council approved an Administration initiative to ask the Planning Board to study whether the originally proposed area was in need of redevelopment.  Since that time, the Administration has received several inquiries from prospective developers about the possibility of adding the parking lot to the redevelopment study.  Mayor Smith said, “Our Administration heard from several real estate developers that adding the existing parking lot to the proposed redevelopment area would make the properties a more attractive combination for them.  Since we are eager to jumpstart development in that part of Broadway, we recommended to the Council that it add the parking lot to the redevelopment study.  I would like to thank the Council for supporting that proposal.”

Mayor Smith said in January, “There are compelling reasons to concentrate on this particular portion of the Broadway corridor.  Several of the buildings there have been damaged by fire and severe weather events, and have fallen into disrepair. The block contains some empty commercial units, and two parcels consist of vacant land. We want to work with property owners in the area to maintain their buildings properly and to revitalize the neighborhood.  The redevelopment designation gives us many tools to use to encourage investment in the area, including the possibility of condemnation.”

Mayor Smith continued, “For buildings in that square block, we would like a redevelopment study to investigate the viability of combining retail businesses on the ground floors, office space on the second floors, and residential units on third, fourth, and fifth floors.  Our goal is to work in partnership with the existing property owners and a qualified redeveloper or a redevelopment group.”

Mayor Smith concluded, “Now that the parking lot has been added to the redevelopment study, it will allow prospective developers to consider the best use for the additional space.  We will continue to encourage the redevelopment study process towards a successful conclusion.”

 

 

Share