Capital Metro announced that it has released a Request for Proposal (RFP) for the redevelopment of Plaza Saltillo in East Austin.
The area consists of 11 acres, 10 of which will be redeveloped as a transit-oriented development (TOD), while the one-acre Plaza Saltillo will continue to operate unchanged as a MetroRail station.
The RFP offers developers the rare opportunity to develop eight contiguous blocks of undeveloped land in one of the most dynamic and culturally rich neighborhoods in Austin.
“We’re asking developers through this RFP to identify the best possible use of the land within the context of the neighborhood,” said Capital Metro President and CEO Linda Watson.
“Improving neighborhood quality, maximizing long-term value and increasing ridership will be a main focus in evaluating proposals,” she said. “We encourage developers to include a number of features that benefit the surrounding community based on considerable community input over the past several years.”
With more than $100 million in TOD projects along and around its transit corridors, Capital Metro has conducted extensive community outreach and has hosted numerous input sessions with surrounding stakeholders.
For Plaza Saltillo, the community has been steadily involved for the past decade in helping to shape Austin’s former rail yard through a number of public outreach efforts, including but not limited to the East César Chávez Neighborhood Plan, the Plaza District Master Plan by ROMA Design Group, the Plaza Saltillo TOD Station Area Plan and Imagine Austin. This community input helped shape the vision for Plaza Saltillo that is being shared with developers through this RFP process.
Plaza Saltillo is served by Capital Metro’s Red Line rail service, which has tripled in ridership since its launch in 2010, and is standing room only during peak periods. The property is zoned for high-density and transit-friendly mixed use development. The revenue generated from the redevelopment of Plaza Saltillo will go into Capital Metro’s general operating fund to support future transit improvements.
Following a brief but comprehensive review of each proposal, Capital Metro will select finalists and solicit additional information. In addition, the public will be provided an opportunity to comment on the finalist’s proposal. It is anticipated that the Capital Metro board of directors will vote to select the developer sometime in mid-2014.
Oxford Commercial, a member of the Cushman & Wakefield Alliance, will serve as the agent during the RFP process.