How might 8610 Page Look?

I contacted the developer for the 8610 Page Redevelopment Project. They were kind enough to provide us with some drawings and pictures so we could share then with our readers. To see any of the following pictures at full size just click on them.

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........Site Plan........................Proposed New Building
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....Proposed Rehab..................Rehab well underway
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More views of rehabilitation project underway

In our earlier article about this redevelopment plan we told you the disappointing news that Beech Nut pulled out of this deal as they made the business decision to relocate their Headquarters operation to New York, where their primary production facilities are.

The loss of Beech Nut is certainly a concern. However, as you can see in the pictures above construction on this project is already underway. The developer obviously feels secure enough in this deal to invest in the construction. Ultimately, any development deal is a gamble. The developer gambles that the property will be profitable, the tenants gamble, to some degree, that the property will be good for their business, and in this case, the City gambles some potential future tax revenues on the project and the tenants being good for the city overall. Every party involved has to take on a bit of risk. Since the developer has put their money where their mouth is by working on the rehab of the old Dorris Company building I believe, with careful use of clawbacks to protect taxpayers, the city should move forward on this Tax Abatement.

The developer has stated that their intent is to build a LEEDs green project and they have consulted with Alberici on this. When Beech Nut pulled out, the developer was no longer willing to commit to a Gold LEEDs certification but stated that it will be a LEEDs project, limited only by what prospective tenants will agree too. With Alberici and now a potential LEEDs project next door, Overland has an opportunity to market itself as an affordable green community for other companies to consider. The positive public relations not to mention the long term cost savings of such projects could start a development trend in Overland that could be good for everyone.

Assuming that the city and the developer agree to reasonable clawback provisions in the development agreement, I expect this Tax Abatement could be approved by the City Council as early as the March 14th, 2007 Council meeting (next Monday).