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File #: LBA Res 21, Series 2019    Version: 1 Name:
Type: VAPStat Case Status: Landbank
File created: 3/28/2019 In control: VAPStat Joint Meeting
On agenda: 4/8/2019 Final action:
Title: Locations: 1707 West Market Street 40203 Applicant: Paraquel Capital, LLC Disposition Program: Budget Rate Policy for Agricultural/New Construction Projects Project Type: Outdoor Event Space Project Timeframe: 6 months Sale Price: $500.00 Funding Source: Private Funds 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 this lot 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. LBA acquired the lot through Metro foreclosure. Staff is recommending approval of the ...
Attachments: 1. Resolution No. 21, Series 2019 - 1707 W Market St Paraquel Capital Budget Rate.pdf
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Title

Locations:

1707 West Market Street 40203

Applicant:

Paraquel Capital, LLC

Disposition Program:

Budget Rate Policy for Agricultural/New Construction Projects

Project Type:

Outdoor Event Space

Project Timeframe:

6 months

Sale Price:

$500.00

Funding Source:

Private Funds

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 this lot 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.  LBA acquired the lot through Metro foreclosure.  Staff is recommending approval of the sale on the condition Applicant obtains all necessary permits and zoning to build out the site.