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What will be built in the
Park East?
That’s up to the marketplace demands, but the City/County-approved
Park East Master
Plan does outline the following:
The Upper
Water Street District
foresees development that continues the strong pattern of residential that has
flourished to the east, including higher density residential townhomes,
apartments, and neighborhood retail on the ground floor. The development will
create an extended downtown residential neighborhood, seamlessly connecting the
Brady Street, Beerline B, and original Park East (Ogden area) neighborhoods.
The
Lower Water Street District
includes mixed-activity development that compliments existing patterns of
small-scale entertainment, promotes an increased level of pedestrian activity,
and maximizes use of the riverfront parcel to create an attractive location for
office use.
The
McKinley Avenue District
contains large contiguous parcels suitable for large buildings such as corporate
offices and entertainment venues. The intention of this district is to
concentrate corporate offices to create new jobs, and to grow additional demand
for downtown goods and services.
When will the Park East Corridor
emerge as a fully-built extension of the downtown?
Again, this depends on the private marketplace but based on an
expert analysis of current real estate
market demands, it’ll take 7 to 15 years for all sites in the Park East corridor
to be purchased and redeveloped by the private sector. This estimate follows the
original projections included in the Park East project plan.
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