By Mike Sunnucks | Rose Law Group Reporter
The city of Phoenix has issued a request for proposals (RFP) for potential redevelopment of a downtown parking garage site.
The city wants is soliciting development plans for Regency Parking Garage at Second and Adams streets.
The property is next to the Phoenix Convention Center and Hyatt Regency Phoenix hotel.
The city is looking for mixed-use development proposals for the downtown site which is also on Metro light rail. A developer could lease the parking garage land from the city or buy it, according RFP documents.
A developer could also propose buying the 0.974-acre property. The city’s minimum asking price is $11.75 million
Downtown Phoenix has seen several new developments including apartments and the Block 23 mixed-use development. There are also plans for a development at the Central Station transit hub.
Development bids and proposals are due Sept. 24. City staff plan to send recommended proposal to the Phoenix City Council in April 2020.
