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The Capital Region Development Authority is poised to begin its hunt for a developer to transform a four-acre parking lot south of Bushnell Park into a mix of hundreds of apartments and thousands of square feet of retail space.
CRDA Executive Director Michael Freimuth said his agency will issue a “request for qualifications” in early April, seeking interested developers.
The lot sits just to the east of a state office building, sandwiched between Capitol Avenue and West and Buckingham streets one block south of Bushnell Park.
It occupies one of several blocks — a total of about 12 acres — the city aims to transform into a vibrant mix of apartments for 1,800 residents, along with retail, arts and cultural offerings.
That vision is spelled out in a “Bushnell South” master plan first issued last June and updated in November.
According to that plan, the four-acre lot controlled by CRDA would host 372 apartments and 28,000 square feet of retail space. The exact scope and schedule, however, would be subject to negotiations between whatever developer is selected and the CRDA, Freimuth said.
The larger Bushnell South redevelopment plan includes Spinnaker Real Estate Partners’ $63.3 million redevelopment of a former state office building at 55 Elm St., which sits near the eastern edge of the development zone. Spinnaker plans to create 278 apartments, as well as retail on that site, according to the master plan.
The master plan also shows Spinnaker eventually building another 456 housing units on parking lots just south of 55 Elm St.
Freimuth said development of the four-acre parking lot currently controlled by CRDA could come in two or more phases. He plans to issue an RFQ in early April, with responses due at some point in May. If all goes well, a preferred developer could be picked in late spring or early summer, he said.
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