How much should the city invest in the Statesman PUD? Zero, or $400 million?
PUD, marked by a star at the top center of the map, proposes 3.6 million square feet of construction, meaning much bigger buildings than those envisioned here., the place we used to call the Batcave. This 13-acre site's owners – the profoundly wealthy Cox family of Atlanta, which sold the paper itself in 2018 – have partnered with Endeavor Real Estate Group to create a $2 billion-ish redevelopment should the city agree.
Well, they sure have improved! So at the April 7 meeting, Council asked for an update of this study to price out thePUD, with all the community benefits offered and required so far, plus the six proposed amendments that had a price tag. The Housing & Planning Department went to its go-to consultant, Economic & Planning Systems of Oakland, who's been working with the city on deals like this in Austin since the 1990s.
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