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File #: LBA Res 18, Series 2019    Version: 1 Name:
Type: VAPStat Case Status: Landbank
File created: 3/4/2019 In control: VAPStat Joint Meeting
On agenda: 3/11/2019 Final action:
Title: Locations: 1709, 1711, 1715 1717, and 1719 West Market Street 40203 Applicant: Paraquel Capital, LLC Disposition Program: Solicitation of Interest - August 2018 Sale Price: $2,700.00 [$700.00 for one (1) parcel and $500.00 for four (4) parcels] Case Manager: Linette Huelsman Restrictions: 1. Applicant to obtain C2 zoning for an outdoor music venue and seating space. 2. Applicant to obtain all necessary approvals and permits to construct the outdoor event space. 3. Standard restrictions set within the "Budget Rate" disposition program. Summary: Applicant is requesting five (5) lots in order to create an outdoor seating area, music venue, and communal space for the building it has purchased at 1701-1703 West Market Street, formerly known as the "HUB". The HUB will be renovated into a mixed-use building with a bookstore, coffee shop, full service restaurant and bar, and event venue. The lots were part of the August 2018 Market Street Solicitation of Interest ("SOI"). Staff is recommen...
Attachments: 1. Resolution No. 18, Series 2019 - 1709-1719 W Market St SOI Budget Rate.pdf
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Title

Locations:

1709, 1711, 1715 1717, and 1719 West Market Street  40203

Applicant:

Paraquel Capital, LLC

Disposition Program:

Solicitation of Interest - August 2018

Sale Price:

$2,700.00  [$700.00 for one (1) parcel and $500.00 for four (4) parcels]

Case Manager:

Linette Huelsman

Restrictions:

1. Applicant to obtain C2 zoning for an outdoor music venue and seating space. 2. Applicant to obtain all necessary approvals and permits to construct the outdoor event space. 3. Standard restrictions set within the “Budget Rate” disposition program.

Summary:

Applicant is requesting five (5) lots in order to create an outdoor seating area, music venue, and communal space for the building it has purchased at 1701-1703 West Market Street, formerly known as the “HUB”. The HUB will be renovated into a mixed-use building with a bookstore, coffee shop, full service restaurant and bar, and event venue.  The lots were part of the August 2018 Market Street Solicitation of Interest (“SOI”).  Staff is recommending approval of the sale on the condition Applicant obtains all necessary permits and zoning to build out the site.