Update on North of Broad/Downtown Redevelopment Request for Proposals

Mayor Levar M. Stoney announced today that he has authorized the city administration to enter into negotiations with The NH District Corporation (“NH District Corp.”) for the North of Broad/Downtown Redevelopment Project. 

The selection of NH District Corp. follows a comprehensive and thorough review process during which City staff analyzed the voluminous materials contained in the proposal in addition to information provided by NH District Corp. pursuant to the City’s request for clarifications.

“Though many questions remain and there are important points to negotiate, based upon the results of this review process, I believe there is potential in this proposal to provide transformational change in an underutilized portion of downtown, without negatively impacting the City finances or debt capacity,” the Mayor said.

“After briefing the members of city council, I’ve instructed staff to negotiate with NH District Corp with the understanding that we will only take the next step in this process if we determine it is in the best interests of the community.”

Upon announcing the RFP in November, Mayor Stoney set ambitious goals: To expand economic development and affordable housing opportunities; to generate revenue while achieving poverty mitigation through jobs and training; to provide historic preservation and community revitalization, to promote and support tourism, and to ensure sustainable development and investments in mass transit and infrastructure.

As set forth in the RFP, negotiations are anticipated to take place throughout the summer. If negotiations are successful, the project would be presented to City Council for consideration in the fall.

For more background information, click here.