On June 1, the City of Redmond’s Urban Renewal Agency (Agency) issued a Request for Proposals (RFP), seeking qualified development proposals for one of the last remaining large-scale, vacant lots in the Mid-Town area of Redmond.
The 1.97-acre development site, owned by the Agency, is located at the corner of NW Greenwood Avenue and NW Fifth Street, in the Mid-Town area north of downtown Redmond.
The Mid-Town area is easily accessible to business, dining, and shopping opportunities. The goal of redeveloping this area is to encourage a vibrant mix of pedestrian-friendly uses, including housing, shopping, entertainment uses, and increased density.
“This is a rare opportunity for a development team. The lot’s size, location, and project-ready status provide the opportunity to design and build a landmark project,” said Troy Rayburn. “The Agency is excited to explore any potential concepts for the site and purposefully drafted the RFP in an open, nonprescriptive manner to encourage a development team’s creativity.”
A vibrant city core plays an important role in the overall health of a community and serves as an economic generator by attracting people to live, play, and work. For the past decade, the Agency has been strategically investing in key revitalization efforts to improve and link Redmond’s Downtown District, Mid-Town area, and Medical District.
“There are a number of incentives the Agency is willing to provide to assist a qualified development team with a quality project,” concluded Rayburn. “Including a 20% financial contribution to the project’s overall cost.”
The RFP and other important documents can be found at www.RedmondUrbanRenewal.com. The Agency encourages interested parties to review the information before seeking city staff comment. All questions must be sent via email to troy.rayburn@ci.redmond.or.us.
