Adrian Washington, AWC president and CEO, tells GlobeSt.com that the plan is a great compromise between the team owners pushing for above ground parking, and the city, which expects to receive air rights and additional tax revenues pf $10 to $15 million per year.
Separately, AWC will continue to vet the five development teams selected earlier this month out of 17 original bidders to redevelop 47 acres of publicly owned land along the Southwest Waterfront slated to be transferred to AWC. "We are conducting a round of interviews this week asking them follow-up questions based on their proposals. The interviews will be completed by Friday and we expect to winnow the list to one, or possibly two or three finalists after that fairly quickly." The final developer will be selected no later than late summer or early fall. AWC will ask for Council ratification in late September.
Also on AWC's agenda are plans for the east side of the Stadium. By the end of summer, AWC will reveal finalized development plans for those tracts, Washington says.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
