Title
Power District (B)
Explanation
The Power District is a unique 17-acre redevelopment opportunity of former GRU facilities located in Southeast Gainesville between Downtown and Depot Park. The CRA on behalf of GRU and the City has been acting as an agent for redevelopment. To date, significant pre-development due diligence work such as community engagement, crafting the 2013 Redevelopment Plan, rezoning, technical studies, special events, environmental analysis, and real estate development solicitations have been completed.
As a result, in 2016 the CRA began a multi-phase solicitation process to assess interest of the private development market to contract with the public sector on the implementation of the Power District. The goal of the solicitation process was to identify and encourage interested private development parties, determine the market’s desire, approach, and outline the general terms of a potential agreement all while ensuring the community vision and core planning principles of the adopted 2013 Redevelopment Plan are maintained throughout the development process. With limited public resources available to fully execute the vision for the Power District, this approach is being pursued to identify and prioritize market based projects that will serve as a catalyst for long-term sustained economic and community investments.
In October 2017, the CRA Board authorized the Executive Director to negotiate a Development Agreement with Cross Street Partners (Developer) as the Master Developer following a two-stage competitive Request For Qualifications and Invitation To Negotiate solicitation process. Following a several month negotiation period, Staff presented a Framework Plan to the CRA Board that outlined the general deal points and project responsibilities of a Purchase/Sale Agreement and Development Agreement.
Following the CRA Board’s decision at the March 18, 2019 meeting to terminate the solicitation, Staff has been convening...
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