By Becky Pallack | Arizona Daily Star
The company most actively involved in the redevelopment of downtown’s west side is asking to change the terms of its agreement with the city for a third time.
Gadsden Co., which has an exclusive right to buy and develop land now owned by the city just west of the Santa Cruz River, wants to buy only a portion of the land for a planned Phase 2 of its project, and pay a price that will only partially cover its share of the cost of a streetcar line that will serve the area.
City Councilwoman Regina Romero said she’s happy the project will move forward, create jobs and result in new affordable housing.
But Councilman Steve Kozachik is skeptical, saying the new plan is a tough sell.
The City Council will begin talks on the issue at its Tuesday meeting, with a decision not expected until early next month.
Gadsden partner Adam Weinstein said “we’re working our tails off” to meet obligations under the agreement with the city.
