2020-71 - Authorize negotiation with CASTO/North Point Realty to develop forner Hospital site

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Referred to COW 11/16/20 Bullock, Kepple, Littenr Neff RESOLUTION NO. 2020-71 BY: O'Malley, Rader, Shachner A RESOLUTION to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect at the earliest period allowed by law, authorizing the Mayor to negotiate a non -binding term sheet with CASTO / NORTH POINTE REALTY, INC. (hereinafter referred to as "CASTO"), as the basis for a development agreement for the city -owned former Lakewood Hospital site. WHEREAS, CASTO submitted its proposal as part of the request for qualifications issued by the city on February 6, 2017, and as presented in response to the request for proposals issued by the city on May 8, 2017; and WHEREAS, CASTO's proposal is a multi -story mixed use office/retail/residential devel- opment on approximately 5.7 acres of city -owned real property located at Detroit Avenue and Belle and Marlowe Avenues in Lakewood; and WHEREAS, CASTO was previously identified and selected by the citizen -led real estate advisory panel as one of the two preferred developers to redevelop the site in a manner that sup- ports the Community Vision, the commercial design guidelines and the following articulated de- velopment objectives: ■ A transformative mixed -use development that meets community hous- ing, employment, shopping, and service needs, including growth oppor- tunities for existing Lakewood businesses. ■ Creatively integrate visionary architecture engaging and complemen- tary of the character and quality of Lakewood's building stock, includ- ing design characteristics of the original hospital building. ■ Relate to and activate the streetscape to generate street level activity, and provide a safe, inviting pedestrian experience. ■ Serve multiple modes of transportation on site, while meeting realistic vehicle parking needs ■ Design Lakewood's finest multi -functional outdoor community gather- ing space. ■ Position the development to respond to shifting market conditions. ■ Recognize and restate the historical significance of the site for the com- munity in built form. ■ Support environmentally sustainable development practices, including innovative storm water management techniques and energy efficient building practices that go beyond code requirements. ■ Sensitivity to the directly adjacent single-family neighborhood.