Olivette goes through development plans
Olivette recently solicited proposals for development from qualified real estate developers, for an area called the ‘I-170 Interchange Gateway District’.
Four proposals were received, from PACE, Novus, Keat Properties, and BBA Acquisition Company. Olivette's economic development consultant and its legal counsel are now reviewing the proposals, examining such items as the financial projections, and RFP compliance. After the analysis is complete, the city's Economic Development Commission will further evaluate them.
The development area is located at Interstate 170 and Olive Boulevard, and comprises about 12.5 acres of land. One of the main goals of the redevelopment of the area is to create an attractive eastern “gateway” to Olivette, which will encourage future development in the city, and in particular, along Olive Boulevard. Creating this approach should be done by incorporating unique streetscape and landscaping elements, open space, and infrastructure that is friendly to both bicyclists and pedestrians.
The developer also is asked to create public spaces and common areas that are inviting, and will become a focal point for activity in Olivette. The development should also include amenities that optimize the economic and fiscal benefits to the city, by creating opportunities for employment and generation of tax revenue. The development also needs to serve Olivette's residents' daily needs.
Olivette officials might create brochures detailing the project's progress and objectives, and make them available to commercial realtors who could present them to companies considering location in Olivette.
Four proposals were received, from PACE, Novus, Keat Properties, and BBA Acquisition Company. Olivette's economic development consultant and its legal counsel are now reviewing the proposals, examining such items as the financial projections, and RFP compliance. After the analysis is complete, the city's Economic Development Commission will further evaluate them.
The development area is located at Interstate 170 and Olive Boulevard, and comprises about 12.5 acres of land. One of the main goals of the redevelopment of the area is to create an attractive eastern “gateway” to Olivette, which will encourage future development in the city, and in particular, along Olive Boulevard. Creating this approach should be done by incorporating unique streetscape and landscaping elements, open space, and infrastructure that is friendly to both bicyclists and pedestrians.
The developer also is asked to create public spaces and common areas that are inviting, and will become a focal point for activity in Olivette. The development should also include amenities that optimize the economic and fiscal benefits to the city, by creating opportunities for employment and generation of tax revenue. The development also needs to serve Olivette's residents' daily needs.
Olivette officials might create brochures detailing the project's progress and objectives, and make them available to commercial realtors who could present them to companies considering location in Olivette.