Lakewood approves zoning changes for DMV site development partnership

During a recent meeting of the Capital Development Committee, significant progress was reported on the redevelopment of the Lakewood Complex, a state-owned property. The discussions highlighted a shift in zoning regulations that will facilitate a public-private partnership aimed at transforming the site into a community asset, particularly focusing on affordable and attainable housing.

The committee noted that two years ago, the project faced challenges due to its original zoning classification as mixed office suburban, which complicated efforts to attract developers. However, with the city of Lakewood's agreement to upzone the property to mixed urban general, the site is now more conducive to development. This change is expected to increase density and improve parking availability, ultimately reducing traffic in the area.

The objectives of the redevelopment include generating a reasonable return for the state, maximizing investment through private sector collaboration, and ensuring construction begins by the first half of 2027. The committee has been actively engaged in feasibility and market studies over the past two years and has recently issued a Request for Qualifications (RFQ) to solicit developer interest.

A competitive procurement process is currently underway, with a public solicitation scheduled for March 25, followed by site tours for potential developers. The procurement process is expected to close on May 9, with a developer selection anticipated by June 9. This timeline is crucial as it aligns with the goal of having shovels in the ground by 2027.

The committee is seeking approval for the public-private partnership agreement structure, which will outline the guidelines and baselines for collaboration with the selected developer. This agreement will be pivotal in ensuring that the project meets its objectives and delivers on the promise of affordable housing for the community.

As the project progresses, the committee remains focused on the importance of selecting a developer with a proven track record in affordable housing projects, ensuring that the redevelopment aligns with community needs and expectations.