HomeMy WebLinkAbout3281 RESOLUTION NO. 3281
A RESOLUTION of the City Council of the City of
Bremerton in support of a capital budget request for the Quincy
Square on 4th Downtown Revitalization Project.
WHEREAS, the Quincy Square on 4th Downtown Revitalization Project("Quincy
Square Project") concept has been developed over the past two years by a grass roots consortium
of active and interested citizens, professional groups and developers; and
WHEREAS, the Quincy Square Project, located on 4th Street between
Washington Avenue and Pacific Avenue, is an integrated urban revitalization project that, when
completed, will be one of the Puget Sound's great public spaces and a model for what livable
downtown neighborhoods should look like; and
WHEREAS, the Quincy Square Project vision seeks to turn a long-neglected city
block into an active, housing based day-to-night urban center with focused arts, entertainment,
and evening-centric retail spaces; and
WHEREAS, the strategic combination of residential and commercial uses lining a
modern workable and walkable streetscape will yield a result whose impact will be felt
throughout Bremerton and the region; and
WHEREAS, the Quincy Square Project will assist Bremerton in eliminating its
chronic designation downtown as a severely distressed blight zone, spurring new investment by
attracting new residents to live downtown, creating demand for new housing which will spur
badly needed market rate and affordable apartments and spot retail; and
WHEREAS, the Quincy Square Project supports local needs and generates
increased business traffic while drawing new visitors to downtown Bremerton; and
WHEREAS, the Quincy Square Project will attract a minimum of$17.2 million
of additional investment in the buildings fronting 4th street, including 43 new residential units
fronting 4th street in the short term, with many additional units possible in the future; and
WHEREAS, the Quincy Square Project will contribute to a reduction in
greenhouse gas emissions because it will attract new, permanent residents to Bremerton's
downtown area, many of whom will make the choice to not own a car because of the easy
walking proximity of downtown services, including public transportation (Ferry to Seattle;
Bremerton Transportation Center just 3 blocks away); and the unique downtown ambience
created by the Quincy Square Project will continue to attract new, no-car residents; and.
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Quincy Square Project
WHEREAS, private investment of$17.2 million, to renovate four(potentially six)
derelict,blighted, 30-yr vacant 4th Street buildings into market rate and affordable housing with
spot retail, is already under way; and
WHEREAS,private investment into the buildings that line the street will create
new property tax revenue, sales tax revenue, and business occupation tax revenue: 16,000
square feet of potential retail space along 4th Street currently sits vacant, representing $4 million
in annual projected, taxable retail sales (at$250/sf); and
WHEREAS, with a$21.9 million(private+public right-of-way) investment on
this block of 4th street, assuming a job is created or retained for each $60,000 of investment, this
project will create or retain 365 jobs during design and construction; and in the long term, the
Quincy Square Project will create a desirable urban neighborhood and a flexible public gathering
space ideal for hosting a wide range of festivals, markets, and other community events; and
WHEREAS, the Quincy Square Project will be a catalyst for re-development
throughout Bremerton, as evidenced by four new projects along the adjacent blocks, a 20-unit
residential project valued at $2.5 million, a 50-unit residential project and grocery store valued at
7.3 million, and two additional commercial developments valued at $500,000 each currently
planned for development as a result of the Quincy Square Project, representing 180 new/retained
jobs; and
WHEREAS, the Quincy Square Project leverages momentum behind the historic
Roxy Theater as a project centerpiece, tying in new music and film events while honoring an
inspirational Bremerton raised role model, Quincy Jones; and
WHEREAS, Quincy Jones has embraced the concept and provided his permission
to use his name for the project; NOW THEREFORE,
THE CITY COUNCIL OF THE CITY OF BREMERTON, WASHINGTON,
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The recitals set forth above are hereby incorporated as if set forth
herein in full.
SECTION 2. The City Council of the City of Bremerton is in support of the
Quincy Square on 4t Downtown Revitalization Project and further supports a capital budget
request of$500,000 for design work for the project.
SECTION 3. Severability. If any one or more sections, subsections, or
sentences of this Resolution are held to be unconstitutional or invalid, such decision shall not
affect the validity of the remaining portion of this Resolution and the same shall remain in full
force and effect.
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Quincy Square Project
SECTION 4. Effective Date. This Resolution shall take effect and be in force
immediately upon its passage. II _
PASSED by the City Council of the City of Bremerton, ashington this l0 day
of (.uQ,V410Q,r , 2016.
ERIC YOUNJ R, '• .ncil President
APPROVED AS TO FORM: ATTEST:
AIII
R• ER A. LUBOVI , ' Attorney SHANNON CORIN, City Clerk
R:\Legal\Legal\Resolutions\Public Works\Quincy Square on 4th Resolution of Support.docx
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Quincy Square Project