Wednesday marked another important step in the Columbus Redevelopment Authority’s Burns Bottom project, with the board approving plans to advertise the property to developers. The first of those advertisements will appear Feb. 22 in The Dispatch along with other publications outside the immediate area. The advertising will invite developers to submit proposals to develop all or part of the five-block neighborhood between Third and Fourth Street and Second and Seventh Avenue North.
The Request For Proposals language provides a glimpse into the CRA’s priorities for the Burns Bottom project which has been the CRA’s primary focus since its formation in 2015. The advertising is also a sign that the CRA’s work — which includes the purchase of 70 parcels, engineering and environment studies — is entering a phase in which the public can expect to see progress on the project.
What happens to the property from this point will be up to the developer or developers the CRA approves. The state legislature provided the CRA for $3 million to be used for infrastructure, which will be a nice incentive for the developer. Before the legislature appropriated those funds, the CRA estimated that the capital investment in the project would be roughly $30 million. That $3 million for infrastructure would amount to an incentive of 10% to 12%. That’s a pretty good carrot to dangle.
The RFP also provides insight into the CRA’s priorities in Burns Bottom.
Several factors will be considered in responses, including financial capacity to complete the project, quality of proposed housing, provision of ample and quality public spaces and incorporation of sustainability measures.
For developers, the RFP helps them understand what the city hopes to achieve in redevelopment while offering the flexibility necessary to achieve the developer’s vision.
The RFP now puts the ball in the court of developers. While it is impossible to predict how many developers will respond, it is another big step in the CRA’s nine-year journey.
The Dispatch Editorial Board is made up of publisher Peter Imes, columnist Slim Smith, managing editor Zack Plair and senior newsroom staff.
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Quality, in-depth journalism is essential to a healthy community. The Dispatch brings you the most complete reporting and insightful commentary in the Golden Triangle, but we need your help to continue our efforts. In the past week, our reporters have posted 36 articles to cdispatch.com. Please consider subscribing to our website for only $2.30 per week to help support local journalism and our community.
