DEPARTMENT: Center City Development and Operations
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
A briefing on the Hemisfair Public Private Partnership
SUMMARY:
This is a briefing to provide City Council information about several items related to the a Public-Private Partnership (P3) with ZH Downtown Development Company, LLC, an affiliate of local real estate developer Zachry Hospitality for the development of 5 acres of land on the corner of Market and South Alamo that are adjacent to the proposed 9 acre Civic Park in Hemisfair.
1. Development Sublease Agreement between the Hemisfair Park Area Redevelopment Corporation (HPARC) and ZH Downtown Development Company, LLC for the development of 5 acres of land on the corner of Market and South Alamo that is owned by the Hemisfair Park Public Facilities Corporation.
2. Parking Garage Development Agreement and License between the City, HPARC, and ZH Downtown Development Company, LLC to facilitate the construction of a parking facility to support current and future development within Hemisfair.
3. Adoption of a process for certification that a proposed hotel complies with the approved Declaration of Restrictive Covenants that limited the number of rooms and size of a hotel built within Hemisfair.
BACKGROUND INFORMATION:
In 2012, City Council adopted the Hemisfair Master Plan. As a result of the master plan effort, HPARC and City staff worked with the state legislature to realign the actual designated parkland to clearly delineate what is parkland and what is available for potential development. Under authority of specific legislation for Hemisfair, the City Council, in December of 2013 designated 18.47 acres of parkland in Hemisfair, more than doubling the unencumbered parkland. City Council also identified several parcels for development and conveyed these parcels to the Hemisfair Park Public Facilities Corporation (HP PFC), a corporation governed by City Council. In Octob...
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