SPRINGFIELD – The Glenwood riverfront property has piqued the interest of developers in Springfield, and the Springfield Economic Development Agency (SEDA) this week heard two unsolicited pitches for its redevelopment.
SEDA and City have assembled about nine acres of Glenwood riverfront property for future redevelopment, and the SEDA Board on Monday heard from Glenwood Development LLC and LOCALIS Partners.
Glenwood Development pitched a project with 30-50 retail shops, eateries, drinkeries and a grocery store as well as up to 555 condominium-grade residential housing units, over 100 of which would be affordable residences.
According to the proposal, the prime engine to attract visitors would be the 20-story, 378-room full service luxury riverfront hotel complex. It would be the tallest and largest hotel/conference complex between Portland and San Francisco, and would feature restaurants, lounges and an 85,000-square-foot conference venue and meeting space.
The LOCALIS project includes roughly 32 acres of riverfront land with a mix of medium and high-density housing, office and commercial space, retail and restaurants, parking, hotel and meeting center, sports venues, and park improvements.
Phase 1 includes a soccer stadium, Phase 2 an ice arena, conference facility and Phase 3 housing, retail and restaurants.
These proposals will be reviewed further by SEDA’s legal and financial counsel as development of the Glenwood Riverfront properties is constrained by existing land use regulations and statewide planning requirements, tenant relocation obligations under state law, public procurement requirements, and other legal and financial obligations that will impact proposals differently.
On April 26, the Board may reconvene to discuss the proposals, presentations and initial staff review. The Board may choose to direct staff to negotiate exclusively with a specific group, or may choose to request additional information.