33 King Street-Forum 5-18FINALREDEVELOPMENT OF 33 KING STREET
Public Forum
May 18, 2022
AGENDA Mayor Sciarra-Introduction
Background
RFP Process
Evaluation / Feedback
BACKGROUND
2020 –Legislature approves transfer of 33 King Street to the City
Sale Proceeds split between the City & Commonwealth;
City Use only–City Pays 100%appraised value
17,000 cars per day
Sept 2021 Council Order authorizes Mayor to accept land from
Commonwealth and transfer out
Current environmental assessments
Order requires Council approval of RFP before issuance
PARCEL INFORMATION
Central Business Core Zone-Mixed Use
New Development subject to CBAC & PB
Design, placement, orientation prescribed by
Form Based Code
70’ Height allowance, 0 setbacks
1.46 Acres
Easement for bike path on/off ramp
88 free nighttime public parking
PARCEL CONTEXT
688 Affordable housing
units within ½ mile –43%
290 Units within ¼ mile
$2.5+M public $
pledged -Hub &
additional affordable
housing within ¼ mile
PARCEL CONTEXT
Market Conditions:
Rental housing demand high
Retail vacancies
Overbuilt for office
Pricing peak-$25/sf
¼ mile train platform
17,000 auto trips= high value site
Key Redevelopment site -Rapid Recovery Plan
MINIMUM STANDARDS
Minimum City Criteria
Fossil fuel free heating/cooling
Building Code requires solar ready/latest energy
standards.
Renew existing bike/ped easement
Non-City Use (avoids “penalty fee” to
Commonwealth)
IDEAS FOR REUSE
What should be considered in reuse?
Uses, Energy, Access, Jobs
Evaluation criteria-priority weighting
Greatest return for the City (sale +long term tax)?
Other revenue multipliers?
Meals tax ¾% for City
Hotel tax 6% for City
Housing gap?
Permanent job creation?
Public parking options?
Exceeding stretch code standards?
PROCESS FOR LAND
DISPOSITION
Gather ideas for evaluating proposals
Complete environmental analysis
Accept land from Commonwealth
Issue RFP
Evaluate RFPs
Select winning bidder
Mayor assigns transfer
Northampton Planning and Sustainability
210 Main St.
City Hall
Northampton, MA 01060
www.northamptonma.gov/plan
413-587-1287