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Responses to 111 S. Water St RFP questions (Q&A)

  • What is the size of the parcel? 0.74 acres. Parcel ID: 291-0815-0421-120

  • What is the current zoning? Central Business. Future Land Use is Central Mixed Use.

  • Is there a TID in place? There is a TID in place now. TID # 8, which is an overlay of TID # 5. TID # 8 was created in March 2021 and is a rehabilitation/conservation district with a 27-year lifespan and a 22-year expenditure period. The parcel is also located in a New Market Tax Credit area.

  • Will the city complete a housing market study? The City of Watertown had a workforce housing analysis and action plan conducted in 2022 by Cedar Corporation. The consensus from any source you check with is that we have a high demand for housing across the spectrum, both owner-occupied and rental. A perusal of for-sale listings will also show that there is a pronounced lack of inventory. Here is also some recent info from Thrive ED on housing: https://www.thriveed.org/wp-content/uploads/2023/07/Housing-in-Greater-Jefferson-County.pdf. Thrive ED is a great resource for questions regarding current market demands and demographics.

  • How quickly would the city like the project completed? We would like an aggressive timeline for development, as the City has made significant investments in nearby public parcels, including the Watertown Public Library and the Bentzin Family Town Square.

  • Does the City have a preferred type of project? At this time, the City is leaving the proposed use of the parcel open for proposals (e.g. residential, commercial, or mixed-use).

  • Is the City requesting any specific amenities or features? The RFP requests the inclusion of a riverwalk extension (along the river frontage), which would connect a sidewalk path from the Bentzin Family Town Square to the properties located to the south of 111 S. Water St.

  • What was the previously proposed project for this property? A five-story apartment building, including amenities such as a pool, with 100 residential units and approx. 3,000 sq ft of commercial space on the first floor, as well as two levels of underground parking. The agreement with the previous developer ended September 30, 2023. The parcel was returned to the City before the issuance of this RFP.

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