The City Council has given the green light to issue a request for proposals for the Regency Garage. Located at Second and Adams streets, it has about 500 parking spaces and nearly 23,000 square feet of ground floor commercial space.
Phoenix wants a mixed use development that includes a full-service hotel with at least 400 rooms. An outside consultant’s study found the city needs 800 to 1,200 more hotel rooms to stay competitive with convention business.
Interested developers must show they’ve successfully completed a mixed-use development of at least seven stories within the last five years.
According to information provided to the council, the request will seek proposals that:
- Provide a full-service hotel with no fewer than approximately 400 guest rooms.
- Capitalize on the site's prominent downtown location and proximity to the Phoenix Convention Center.
- Support the long term expansion needs of the Phoenix Convention Center and the city's convention and visitor industry.
- Implement the Adams Street Activation Study recommendations and other relevant city plans.
- Are consistent with the Downtown Strategic Plan goals.
Responsive proposals will be evaluated by a panel including city staff and community representatives. The evaluation criteria will be:
- Concept to activate the Site: 0-375 points
- Return to the city: 0-350 points
- Proposer's qualifications and experience: 0-275 points
Following negotiations with the recommended proposer, staff will present business terms to the Economic Development and Housing Subcommittee for review and recommendation and subsequently to the full City Council for approval.
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