The former St. Francis Hotel, a downtown landmark for more than a century, was mentioned twice at last week’s meeting of the Albany Revitalization Agency. That’s the city council when it acts as the agency governing CARA, the Central Albany Revitalization Area.
A team of consultants led by Walker Macy, a Portland firm, now has the approval of Albany’s urban renewal agency to gather public opinion and then make plans for redeveloping the city’s Willamette Riverfront.
Albany may spend up to $20 million in urban renewal funds to redevelop its Willamette riverfront, including 14 blocks of Water Avenue from Washington Street to Main, but the potential price tag is getting some pushback from at least two members of the city council.
Albany is getting ready to pick a firm of consultants to design a remake of the city’s Willamette riverfront from Washington Street in the west to Main Street in the east.
The city of Albany’s urban renewal agency is buying a building within its district without saying publicly which one. But it’s not the Eagles club at Broadalbin Street and Water Avenue, which is no longer for sale.
Albany’s urban renewal board next week will be asked to choose one of three widely different offers to buy and redevelop the former Wells Fargo bank at Broadalbin Street and First Avenue downtown.
For Albany’s downtown urban renewal program known as CARA, the focus now is on launching and completing a redevelopment of the riverfront along Water Avenue, finishing some remaining projects, and then going out of business, possibly by 2025.
Albany’s urban renewal agency continues to be shy about naming the parties that offered to acquire the former Wells Fargo branch in the heart of downtown. But it plans to decide on selling the building to one of them the next time the CARA advisory board meets, which is June 19.
Albany city officials have received a couple of competing proposals for what to do with the former Wells Fargo Bank downtown, and they are looking for more.
CARA update: $34.5M spent, $21.5M to go
CARA, Albany’s downtown urban renewal district, was created in 2001 and originally was scheduled to last until 2027. Now it’s expected to expire in 2033.
Tags: Albany downtown, CARA, Tiberius Solutions, urban renewal, Wells Fargo redevelopment