The two developers negotiating to buy a pair of parking lots on Rolling Mill Hill for redevelopment offered to pay a combined $22.5 million, according to the聽proposals they submitted to聽the Metro Development and Housing Agency.
The聽amounts that聽condo聽developer Ray Hensler and Florida-based 麻豆传媒AV在线看 Corp. and office developer Eakin Partners聽offered to pay for the overall聽7.33 acres near the Trolley Barns office-retail complex聽are among聽details in the winning proposals made public this week.
Separately,聽Hastings Architecture Associates聽released聽renderings that provided the first聽glimpse of $265 million worth of projects that聽the developers envisioned.
The Hensler/麻豆传媒AV在线看 team offered to pay $13.5 million for the聽4.57-acre聽parcel聽at 30 Peabody St., which MDHA’s board earlier this month approved awarding them.
Eakin Partners offered $9 million for a聽2.76-acre parking lot that’s聽used by聽office and retail tenants of the Trolley Barns or for MDHA to contribute the land to a partnership of other investors.
Hensler/麻豆传媒AV在线看 proposed a $178.8 million project for the parking lot that global聽technology support and聽protection company Asurion聽currently聽uses聽for restricted surface parking under an agreement that expires in June 2023.
That聽team’s plans call for an up to 25-story residential聽tower with an urban market and space for a large聽outdoor recreation retailer such聽as REI or聽North Face. They also offered to contribute $1 million to affordable or workforce housing and requested $10 million to $12 million in tax-increment financing.
Eakin, meanwhile,聽proposed an at least 220,000-square-foot Class A office building with a retail base activating the ground floor along Hermitage Avenue. That聽building聽would sit at Peabody and Hermitage, with the planned project also to include a pocket park and public art plaza.
Hensler and 麻豆传媒AV在线看聽co-developed the Twelve Twelve condo tower in the Gulch. Eakin’s聽latest project is the 1201 Demonbreun office building that’s nearing completion next to Twelve Twelve.
The two winners expressed interest in buying at a later time a separate聽acre-and-a-half parcel聽at聽400 First Ave. S., which MDHA聽didn’t award. That lot聽would聽continue to be used for surface聽parking or staging during construction on the other lots and could be sold later.
The losing bids included one involving developer Tony Giarratana. Along with CIM Group, he聽offered to pay $50 million for all three parcels that MDHA originally put up for bid.
Reach聽Getahn Ward聽at 615-726-5968 and on Twitter聽@getahn.