TO: CRA Board of Commissioners
FROM: Ivan J. Cabrera, AICP, Redevelopment Manager
THROUGH: Renée A. Jadusingh, Executive Director
DATE: October 29, 2024
UPDATE ON FUTURE TENANTS AND MURAL FOR THE COMMERCIAL BUILDING LOCATED AT 95 SW 5TH AVENUE
Recommended Action:
Provide direction to CRA Staff as it relates to the types of tenants and mural for the CRA-owned commercial building located at 95 SW 5th Avenue.
Background:
At the January 24, 2023, CRA Board Meeting, the CRA Board awarded the Invitation to Bid CRA 2022-01-R - 95 SW 5th Avenue Commercial Building Construction Project (“Project”) to Ahrens, the lowest responsive and responsible bidder, in the amount of $2,739,968. Subsequently, the CRA entered into an Agreement with Ahrens, dated February 28, 2023.
The Project entails the construction of a new two-story commercial building, encompassing approximately 7,089 total square feet. The ground floor, spanning around 2,245 square feet, will feature a lobby, staircase, restrooms, elevator, and one commercial rental space accessible from SW 5th Avenue. The second floor, approximately 4,844 square feet, will feature restrooms and two commercial rental spaces.
This Project signifies an important step toward creating affordable commercial rental space, encouraging economic development and activation along the Historic Northwest & Southwest 5th Avenue commercial corridor, as called for by the CRA Redevelopment Plan.
Construction of the commercial building is ongoing with an expected Project completion Winter 2024 -2025.
Tenant Spaces
The tenant spaces on first and second floors will not be fully built out, as it is expected for future tenants to finish the spaces based on their respective business needs. The common areas of the building will be built out and finished, and tenant spaces will have connections to main utility services, but tenants will be responsible for designing, building out, and finishing the interior of the tenant spaces to meet...
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