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<br />Joint Development Authority <br />TCAAP Redevelopment Project <br />The prompt for these responses was: The JDA and project partners are considering either soliciting for a <br />lead developer or dividing the site into outlots or neighborhood parcels and soliciting developers for <br />each area individually. As a developer, which approach would you find more attractive? What do you <br />see as the opportunities or challenges with each approach? <br />• Overall: <br />o Most respondents expressed openness to either configuration and described pros and <br />cons to each. <br />o One strongly preferred a lead developer approach. Another preferred to directly <br />purchase a development parcel but had the ability to work under a lead developer. <br />o One that was open to either configuration recommended considering hybrid <br />approaches such as: <br />▪ A lead developer for core Town Center areas and separate developers for <br />outlots, such as the single-family neighborhoods and flex office areas. <br />▪ Starting with a lead developer for core Town Center areas and considering <br />either expanding their scope based on successful performance or alternately <br />soliciting new developers for remaining parcels. <br />• Lead Developer <br />o Cohesion: Single lead developer can facilitate more cohesive design, consistent quality, <br />connection, and placemaking, as well as marketing and branding of the development. <br />o Efficiency and coordination: Lead developer can coordinate phasing of infrastructure <br />and vertical development, reducing inefficiency, conflict, and delays. <br />o Financial capacity: A qualified lead developer would have financial capacity and could <br />manage risk across the development site and timeline. <br />o Reputation: A proven lead developer can attract builders and users. <br />o Reduced JDA burden: Work with a single entity may reduce JDA administrative burden <br />in reviewing and approving development proposals. <br />o Accountability: JDA can potentially more easily hold a single lead developer accountable <br />for achieving development goals, rather than tracking goals across multiple developers. <br />o District energy: District energy implementation may be simpler with one lead developer <br />that can commit individual buildings as customers of the system. <br />“This is a critical strategic decision that will fundamentally shape Rice Creek <br />Commons’ development trajectory. Both approaches have merit, and the optimal <br />choice depends on the JDA’s priorities regarding control, risk allocation, timeline, and <br />community vision implementation.”