Barnes unveiled a couple of the plans for business and residential growth during a recent news conference. One commercial plan that was praised has not been fully endorsed by the named developer. The redevelopment is that of the vacant Howard Johnson hotel, which sits between Sixth and Seventh streets, Washington and Pennsylvania.
DST Realty Inc. reportedly was planning to convert the old hotel into a 300,000-sf office building with additional parking garage that would accommodate up to 1,200 cars. Estimated construction costs were placed at about $38 million.
However, DST declined to name a prospective tenant and the company has yet to file paperwork with the Tax Increment Financing Commission. The building sits within an existing DST Realty TIF district.
"We have no concrete plans at this time and we are not in a position to talk about that proposed development," said Julie Schlatter, a spokesperson with DST Realty.
Other proposals were discussed at the news conference, including a plan for 550 new housing units near the historic 18th and Vine jazz district. The plan is being developed by Bank of America.
Also discussed was a housing redevelopment plan in midtown, where under the TIF plan, monies generated by the new Costco wholesale club and Home Depot will create at least a $1-million loan to fix aging area properties.
The city also is creating a Housing Assistance Development Team, the A-Team, to oversee housing proposals.
The River-Crown-Plaza plan was created after the belabored Power & Light District proposal was rejected last fall. That plan was to bring more than $625 million in downtown redevelopment, but was stalled when city leaders and the developer, Regent Partners of Atlanta, could not decide on financing.
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