Preferred developer selected for URA-owned lot

(Press releases are provided to Yellow Scene Magazine. In an effort to keep our community informed, we publish some press releases in whole.)

On Tuesday, Oct. 22 2024, the Town or Erie Urban Renewal Authority (TOEURA) Board of Commissioners supported staff’s recommendation to commence negotiations with a preferred developer for the URA-owned lot at the northwest corner of Briggs St. and Maxwell Ave. in the Historic Old Town URA.

With TOEURA’s support on Tuesday, negotiations with the selected development group have only now just begun, so we can’t share specific details about the select group or their proposed development for the site while negotiations are ongoing. TOEURA and the select group will soon meet to discuss terms, including the proposed development project, phasing, a timeline for completion, and eventual purchase price, which will all be formalized in a Letter of Intent (LOI) between TOEURA and the select development group.  After the LOI is fully executed, the Town will be able to share more detailed information about the selected developer and proposed use for this site.

Without sharing specific details, the selected developer is a team of Erie residents who have successful experience in developing new mixed-use commercial buildings, opening/operating a new local restaurant and ongoing real estate management, all key facets of their proposal for the site at Briggs St. and Maxwell Ave.  This development group also has recent development experience in Erie and understands the Town’s vision for the site and development parameters contained within the Erie Commons Planned Development (PD), and has their project financing and construction team ready to proceed quickly.

Conceptually, the use proposed by the select development group is intended to provide a new, unique, venue to support multiple small businesses in a central location which inspires innovation and collaboration, helping new diverse food and beverage operators to start, or expand, their new business in Erie’s growing community.  It will provide a community gathering space for families, entrepreneurs, and diverse business owners to share networks and resources, while offering new, exciting, dining options for Erie residents.

Background

On Feb. 26, 2024, the TOEURA purchased this 1.12-acre parcel from Community Development Group of Erie, Inc. (“CDG”) intentionally to find a developer with a vision to bring this site to its highest and best use, in alignment with the Town’s Comprehensive Plan, the Downtown Redevelopment Framework Plan, and the Historic Old Town Erie Urban Renewal Plan.  This site also provides a southern gateway to Erie’s Historic Downtown and benefits the surrounding businesses in the Erie Commons business district.

The Town published a Request for Qualifications (RFQ) on June 24, 2024 seeking interested development partners, and by the deadline on July 12, 2024, received applications from two groups.  Town staff held interviews with both responding groups in September, including representatives from Economic Development, Communications & Community Engagement, Human Resources (Development, Diversity, Equity, and Inclusion), Planning & Development, and the Town Manager’s office, intentionally to determine each group’s experience and readiness to complete the project, in alignment with the Town’s vision for the site.