DEPARTMENT: EastPoint & Real Estate Services
DEPARTMENT HEAD: Mike Etienne
COUNCIL DISTRICTS IMPACTED: 2
SUBJECT: Disposition: ROW closure of an improved portion of Edgar Drive
SUMMARY: An ordinance authorizing the closure of a 0.321 acre improved portion of Edgar Drive, in Council District 2, located between Seguin Street and Dignowity Avenue as requested by Richard M. Peacock & Co. for redevelopment of retail space.
BACKGROUND INFORMATION:
This ordinance will authorize the closure of a 0.321 acre improved portion of Edgar Drive, in Council District 2, located between Seguin Street and Dignowity Avenue as requested by Richard M. Peacock & Co. for redevelopment of retails space.
The Petitioner has sales contracts on the properties surrounding the proposed closure. The Petitioner plans to replat and rezone the properties for commercial pad sites, then lease the two lots to retail tenants.
The Petitioner will demolish the existing structures and replace them with commercial pads. The Petitioner will also relocate the existing overhead electric. The Petitioner has agreed to extend Dignowity Avenue by 150 feet and widen it along the property frontage. When completed, the pad sites will be marketed and leased to retail users. Construction will start within the first half of 2015. The proposed level of investment is $2,750,000.00
ISSUE:
Consideration of an ordinance authorizing the closure of a 0.321 acre improved portion of Edgar Drive located between Seguin Street and Dignowity Avenue in NCB 1195 in Council District 2 as requested by Richard M. Peacock & Co.
The Petitioner has sales contracts on the properties surrounding the proposed closure. The Petitioner plans to demolish the existing structures and replace them with commercial pads. The Petitioner will also relocate the existing overhead electric. The Petitioner has agreed to extend Dignowity Avenue by 150 feet and widen it along the property frontage. Wh...
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