HealthSouth_Presentation — original pdf

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Exclusive Negotiating Agreement with Aspen Heights Partners for Redevelopment 1215 Red River & 606 East 12th Streets (former HealthSouth property) Council Work Session June 1, 2021 AGENDA ▪ CITY TEAM ▪ BACKGROUND ▪ ENA HIGHLIGHTS ▪ NEXT STEPS C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 2 CITY NEGOTIATING TEAM Housing and Planning Department Mandy DeMayo, Community Development Administrator Office of Real Estate Services Marek Izydorczyk, Real Estate Services Program Manager Law Department Ron Pigott, Assistant City Attorney Economic Development Department Margaret Shaw, Economic Redevelopment Program Manager Susana Carbajal, Assistant Director C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 3 BACKGROUND October 4, 2018 Council passed Resolution 20181004-042 directing the City Manager to (1) initiate solicitation for the redevelopment of 1215 Red River and 606 East 12th Streets for mixed-income housing with an emphasis on multiple-bedroom housing for households earning at or below 60% of MFI on site with option to provide affordable units within one mile of downtown and (2) ensure certificates of obligations are addressed. November 18, 2019 Request 278 vendors, including affordable housing developers. for Proposals (RFP) issued; Purchasing Department notified April 23, 2020 RFP closed; Purchasing Department received four proposals. November 6, 2020 Purchasing announced proposal rankings with Aspen Heights Partners receiving highest total score. January 27, 2021 May 17, 2021 Council authorized staff to negotiate and execute Exclusive Negotiating Agreement with Aspen Heights Partners including certain community benefits stated in the Council meeting. City and Aspen Heights Partners execute ENA providing a baseline the terms governing the negotiation of a master development for agreement for the redevelopment of the former HealthSouth property located on 1215 Red River and 606 East 12th Streets. C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 4 ASPEN HEIGHTS “12th & Red River: Tying Austin Together” Local Team • Aspen Heights (developer) • STG Design (architecture) • Civilitude (engineering) • Studio Balcones (landscape architecture) C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 5 ENA HIGHLIGHTS ✓ 25% to 45% mixed-income rental housing focusing on family-oriented multi‐bedroom (2 and 3 bedrooms) housing for households earning at or below 60% MFI ✓ High-quality, affordable childcare on site ✓ Live music and art venue space, prioritizing historically disenfranchised artists ✓ Developer may purchase and/or lease property from City ✓ Source of income protection by accepting housing choice vouchers ✓ Recruit and lease local businesses, including retailers, grocers, and restaurants ✓ Public access to the viewing deck ✓ Public access to open space and/or green space, which may include an aquatic amenity ✓ Learning spaces, computer labs, and other spaces with technological resources ✓ Applicability of OSHA requirements, prevailing wage rates, environmental design requirements, and rest breaks ✓ Downtown Austin Community Court is not a contemplated use in the development C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 6 NEXT STEPS • Commence negotiations with Aspen Heights for the master development agreement (MDA) • Brief the Downtown Commission, Community Development Commission, and Design Commission on proposed MDA terms • Seek public feedback • Present proposed MDA terms to Council prior to execution C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 7 Questions? Thank you.