What ever happened to the land legacy park?

[jacobi]

So, what happened?

[carltonplace]

So, what happened?

Same thing that happened to the land legacy office in the burned out synagogue at 14th and Cheyenne.

[SXSW]

Does anyone have a rendering they can post of this park proposal?  I have searched and couldn't find one.  I remember it was several blocks long but not the exact location. 

[LandArchPoke]

Does anyone have a rendering they can post of this park proposal?  I have searched and couldn't find one.  I remember it was several blocks long but not the exact location. 

Land Legacy will not be building a park, they couldn't get the money together to secure the site. Another developer owns this land now, and it will be some sort of mixed-use development. The entity that owns it I'm sure will do something high quality, and it will have a retail and residential focus. It's still in the planning stages though, so it will be a year at least until further information will be released I'd imagine.

[SXSW]

Land Legacy will not be building a park, they couldn't get the money together to secure the site. Another developer owns this land now, and it will be some sort of mixed-use development. The entity that owns it I'm sure will do something high quality, and it will have a retail and residential focus. It's still in the planning stages though, so it will be a year at least until further information will be released I'd imagine.

Interesting.  The East Village has had plenty of "mixed-use developments" proposed in the past 10 years, hopefully this one can actually materialize.  Would Land Legacy ever get back involved with developing a smaller park space within the area? 

[sgrizzle]

Interesting.  The East Village has had plenty of "mixed-use developments" proposed in the past 10 years, hopefully this one can actually materialize.  Would Land Legacy ever get back involved with developing a smaller park space within the area? 

<-- Land Legacy Advisory Board Member and individual who started the East Village park project.

They have an interest in urban greenspace, but they are dependent on donations and grant to make any happen. Their primary work is in rural land preservation. The original plan is for a large park, and we got an East Village park included in the downtown Master Plan and the CIP, but that doesn't mean there is any money for it. They then hired someone to focus on urban greenspace work. After I quit working on it, they got some other people involved and tried to do some fundraising but the multiple land owners make it difficult. They were working on a something more like a string of parks. The urban park person no longer works there.

[LandArchPoke]

Interesting.  The East Village has had plenty of "mixed-use developments" proposed in the past 10 years, hopefully this one can actually materialize.  Would Land Legacy ever get back involved with developing a smaller park space within the area? 

I'd say anything is possible. I think it would probably compliment what they plan to do. Retailers have been touring the area (national one's) so it's just a matter of how many sign on. I'm honestly not sure if they've really gone through detailed site planning yet, or if it's been more of trying to gauge interest from retailers. The owner's of this land are very different then the last few groups that have made "proposals" and then vanished, as they probably have the cash to finance it themselves (no it's not Kaiser) and this will probably be build as a longterm hold and investment versus the ordinary developer who builds to lease and then sale. If you look at this REIT and the developments they build, it'll likely be similar quality. http://www.federalrealty.com  

It really is a patience brings quality. Part of the problem right now is the rental rates for residential still haven't hit that nexus point to build too vertical, and in the next year or two that will change. Retail rates are plenty high, as Cherry Street and Utica you get upwards of $30/SF and something large-scale and new downtown could probably acquire the same rates.

Granted the scope I got on this was a few months ago, so anything in the preliminary part of development can change rather drastically. I have a feeling based on the people involved it'll eventually be something worth the wait.