December 13, 2007 - The Springfield Redevelopment Authority in cooperation with the City of Springfield and the Springfield Finance Control Board will release a Request for Qualifications, seeking a developer for 13-31 Elm Street and 3-7 Elm Street, known as the Court Square Redevelopment Project. The RFQ will be released on Friday, December 14 at 9 a.m. at the Office of Economic Planning and Development at 70 Tapley Street and via the web at www.courtsquarespringfield.com.

"Revitalization of the Elm Street properties is an extremely significant project as the City continues its forward progression," said Mayor Charles V. Ryan. These properties hold tremendous potential, which I suspect savvy developers will recognize, and I expect a robust and healthy competition for the Court Square Redevelopment Project."

The properties included in the project in addition to 13-31 and 3-7 Elm Street will be N/S State Street (98 and 100) and 104-108 State Street. The SRA plans to demolish the building currently standing at 104-108 State Street once the existing tenant is relocated. The RFQ is Phase I of a two-phase process. The first phase involves narrowing the selection pool to no more than four firms. Those firms will then be invited to submit a more detailed proposal of their plans to purchase the properties.   Uses sought for the buildings include market-rate housing or boutique style hotels for upper levels. Uses for the ground floor level include retail, restaurant and the Arts. Office uses are also acceptable and would be considered.

Uses sought for the buildings include market-rate housing or boutique style hotels for upper levels. Uses for the ground floor level include retail, restaurant and the Arts. Office uses are also acceptable and would be considered.

The Urban Land Institute, an internationally recognized advisory service that last year issued a 47-page report of projects and initiatives the City should engage in to stimulate significant economic growth and development, pointed the Elm Street building out as a significant opportunity for downtown housing. In a February report, consultants Zimmerman/Volk Associates noted that downtown Springfield could absorb over 750 of such non-subsidized housing units over the next five years.

Chief Development Officer David Panagore said the buildings are very special. "There is a market of folks that exists today that is looking for unique market rate units in downtown Springfield and this could be the building to help satisfy that demand," he said. "The historical value of these buildings, coupled with that of the adjacent Old First Church makes this space one of the most significant in all of Massachusetts."

Said Brian Connors, Deputy Director of Economic Development for the City of Springfield: "There has been significant interest in this opportunity, and we expect that will translate into strong competition for the property. “We’re very excited about the potential of these properties and bringing new life back to Court Square."

The 13-31 Elm Street building was originally designed by Frederick Newman and built in 1892. In 1900 a sixth floor was added and the Court Square Hotel was built and connected to the original building, wrapping the hotel addition alongside the Juvenile Court and facing State Street. 3-7 Elm Street is recorded as being built in 1835, one of the oldest buildings still standing in the city.

Public improvements have surrounded the site, with the project site lying at the nexus of the $2.5 million Main Street improvements that are nearing completion, and the $13 million State Street improvements that are set to begin. With $71 million spent on the construction of the new MassMutual Center just across Main Street, and the overhaul of public improvements made at Court Square Park adjacent to the buildings, the properties are well situated to take advantage of the public investments.

Developer qualifications will be due February 12th, 2008.