Two-minute impact
The funding agreements come as the city works to obtain the 40-acre district following several failed private revitalization efforts, including a $1 billion mixed-use proposal by Houston-based Puma Development. The site, located north of Hwy. 90A and east of Ulrich Street, is home to the former Imperial Sugar site, including the Char House.
The $50 million effort from the city will be funded by a certificate of obligation, which will be paid for using revenue designated for economic development, including the $0.25 sales tax collected by the Sugar Land Development Corp. and the Sugar Land 4B Corp., city officials previously said.
Devon Rodriguez, director of redevelopment for Sugar Land, said the city has also finalized the land purchase to $31.5 million—down $3.5 million from its original $35 million budget. The budget for preservation has also increased to $12.3 million—an increase of $7.3 million from the $5 million originally budgeted.
The first phase of the project, which is expected to cost $12.3 million, will focus on preserving the Imperial Char House and mitigate further deterioration, city officials said in an email.
Rodriguez said preservation priorities include:
- Repairing the roof
- Repairing or replacing all windows
- Stabilizing the former liquor gallery, which hangs off the building on the north side
- Restoring exterior brick
- Making mechanical and electrical improvements for adequate ventilation
What’s next?
City Council is expected to approve the certificate of obligation sale at an April 15 meeting, with the city acquiring the property by the end of May, Rodriguez said.
City officials said they are still in the scoping phase of the project, so a timeline for Phase 1 hasn’t been finalized. Additional phases are set to be discussed once a master developer is selected, who will partner with the city to revitalize the area into a mixed-use space.
