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<br />Joint Development Authority <br />TCAAP Redevelopment Project <br />What do you see as the opportunities of developing at Rice Creek Commons? What would you <br />envision at this site? <br />• Strong vision and plans: <br />o Once-in-a-generation opportunity for a vibrant mixed-use community. <br />o Alignment with current real estate trends that favor walkable, mixed-use developments <br />over proximity to downtowns. <br />o Strong public spaces and trails, including connections to regional trail networks. <br />• Clean slate: Opportunity to build a community from the ground-up using 21st century best <br />practices, including innovative sustainable development practices. <br />• Range of housing types to meet regional demand: <br />o Single-family housing options, especially attainable for-sale opportunities. <br />o Multifamily housing options for working families. <br />o Housing options for multiple income levels and life stages. <br />• Location: Close to both downtowns and direct access to highways, especially 35W. <br />• Governance: JDA’s groundwork of coordination between City and County and other public and <br />private partners. <br />• Sustainability: Can be a market differentiator, especially if there are cost-saving features in <br />addition to the environmental benefit. <br /> <br />What do you see as the challenges to developing at Rice Creek Commons? Are there any significant <br />factors, requirements, or preferences that you foresee would impact the ability to be financially <br />successful in this development? <br />• Regulatory complexity: multiple project partners and governance structure. <br />• Development timeline <br />o Extended timeline (15-20 years) for full-build out due to scale and complexity of project. <br />o Uncertainty of market over an extended development period. <br />“Younger buyers (Millennials and Gen Z) increasingly prioritize sustainability and are <br />willing to pay premiums for energy-efficient, environmentally responsible housing. <br />Rice Creek Commons’ commitment to all-electric, carbon-free development and LEED <br />for Communities Platinum certification positions it well to capture this market <br />segment. However, the premium buyers will pay depends on clear communication of <br />operating cost savings and environmental benefits.”