The City of Central (“City”), is seeking an experienced organization or collection of organizations (“Partner”) to develop the site to its highest and best use, which could include multi-unit housing or other commercial use. The parcel(s) commonly referred to as the “LZ or Landing Zone” is city-owned, constructed as a remote paved surface parking lot. The LZ Lot, located along Lake Gulch Road visible from the Central City Parkway, is an open area ready for new development.
This is a unique opportunity to develop a partnership that aligns with the City’s long-term economic development goals by revitalizing underused areas and improving economic opportunity along the Central City Parkway, diversifying housing stock, and potentially expanding the economic base. By developing a long-standing relationship and plan to activate the LZ Lot, the City is interested in supporting existing and new development in the City.
In order to bring this project to life, a partnership is needed. Experienced developers and capital sources are encouraged to submit a Letter of Interest (“LOI”) for this opportunity. A successful partner will clearly and effectively communicate a) business plan for developing and using the property, b) how it will be accomplished through an overall development approach, c) how this effort will further other development in the City, and d) the capital support in place to complete the project.
