The City of Altamonte Springs is offering to sell its City Hall and municipal complex for redevelopment as a modern mixed-use complex that would support the neighboring SunRail station, according to a Request for Proposals (RFP) issued on Thursday.
Located on the east side of Altamonte Springs at the northwest corner of the S.R. 436 and C.R. 427 intersection, the 8.09-acre site lies across the street from the local SunRail station, composed of four city-owned parcels.
Redevelopment of the property would ideally include public buildings with a new City Hall that provide local government about 70,000 square feet of leased space, along with retail and dining, apartments and indoor/outdoor entertainment spaces along Newburyport Avenue.
The city's municipal complex currently includes a law enforcement center, county fire station and City Hall. Built between 1972 and 1984, the buildings are facing "physical and functional obsolescence," per the RFP.
The city's end-goal is to lower its long-term costs and increase revenue by turning the public land into tax revenue-producing private property. Projected maintenance of the current buildings is estimated at $11 million or more over the next decade.
Offering the property up for sale doesn't commit the city government to following through, if an attractive proposal doesn't surface.
"We're either going to make a good deal or no deal," City Manager Frank Martz told GrowthSpotter. "Our Plan B is we'll figure out how to fix the buildings. We're proud of the fact that our millage rate is currently lower than it was in 1991 and the city has no debt at all."
The city is offering interested developers considerable freedom in the RFP to deliver innovative design concepts. Overall, it wants a high-density, modern development that would act as a metropolitan cultural center.
Notable neighbors of the property along S.R. 436 include Florida Hospital Altamonte (0.75 miles west), the Altamonte Mall (1 mile west), and the SunRail station (one block east).
City of Sanford has floated much of its 32 acres of lakefront land for sale since 2013. Some of that has since drawn developer commitments, like the 5.25 acres in downtown planned for the mixed-use Heritage Park project by an affiliate of Torre Companies.
Developer applications are due to the city's Procurement Division by Aug. 15. Altamonte Springs anticipates having a master development agreement settled by May 2019.