Coming up at the July 29th City Council and Redevelopment Agency Board meeting, Siegel Group will present the long-awaited plans for West Street Plaza and Fulton Park, with a possible sale or lease as the preferred outcome.
Siegel Group owns the Truckee River Lane building, located at 248 West First Street. They purchased it with the intention of a major remodel to the building, including opening up the adjacent plaza to the east of the building so there is easier plaza access for the First-Street-facing businesses in the Truckee Lane building. Plans include a full exterior facade renovation of the building (yes!) as well as new landscaping and improvements around West Street Plaza. The 14 existing apartments on the upper floors will be renovated and upgraded, and possibly 12 additional units will be added on the second and third levels where there is large unused space in the building. There is also unused basement space facing the Riverwalk that will be renovated into a new retail space with river views.
Siegel Group's purchase of the building occured just in the nick of time, as things were getting heated between tenants and the prior owners.
Below are some early renderings of what the new plaza might look like.
In the Sept 10, 2014 Redevelopment Agency Board Meeting - Council members got an overview, but not an official proposal, of what Siegel Group plans for the property. Reactions were mixed.
Sharon Zadra (council person at the time) wanted a more open public process, and give anyone the opportunity to develop the parcel rather than hand it over to Siegel. Dwigth Dortch and Mayor Cashell responded favorably to the idea, while Jenny Brekkus and Sharon Zadra remained more reserved.
Councilwoman Hillary Shieve suggested that Siegel Group develop a proposal and come back to the table.
I'm guessing that's what this meeting is about July 29....reivew an official proposal would would include lease rights, priority to program the space with events, and renovation plans. Should be an interesting meeting!
Also in the same meeting, there will be discussion of residential construction tax districts, project and fund balances for new park development, and direction to add projects for Pat Baker Park and Virginia Lake Park to the Capital Improvement Plan.
And if that weren't enough, in this same meeting will be a presentation by RTC for their Virginia Street MidTown and RTC RAPID Extension Project.
Should be a fun meeting!
I would suggest the Siegel crew finish some of their other projects first. The El Cortez, with the front awnings stripped off and vinyl signs hung for the current tenants, looks awful, and has been that way for several months now.