The New Braunfels Economic Development Corporation approved a $4.5 million incentive for the redevelopment of the Producers Co-Op site in downtown New Braunfels.

This move aims to establish a new urban park and public marketplace, addressing the community need for more public space in the area, said Jeff Jewell, director of economic and community development for the city.

The two-minute impact

At a Sept. 12 EDC meeting, Jewell presented the proposal, emphasizing the need for more public park space in downtown New Braunfels.

Jewell said a new urban park will include amenities such as a splash pad, seating areas and spaces for performances.

The design of the Producers Co-op area is intended to be similar to The Pearl in San Antonio, which Jewell mentioned as an inspirational model. The redevelopment also includes transforming the Producers Co-op site into a public marketplace.

This venue will support local businesses and host community events, serving as a modern counterpart to the historical marketplace traditions, Jewell said, which aims to act as a small business incubator and stimulate local economic activity.

The impact

The total estimated cost of the project exceeds $19 million, with $4 million specifically allocated for the park, Jewell said.

The EDC’s $4.5 million incentive includes $2 million in reimbursement for public improvements and a $250,000 annual payment for 10 years, contingent on the market’s operation and park maintenance, Jewell said.

"In our comprehensive plan, collaborating with the public and private sectors to develop innovative parks and open spaces to achieve community needs was also something that was identified," Jewell said.

Additionally, the project will help address parking issues by adding new parking facilities, coinciding with the relocation of Old City Hall, 202 N. Seguin Ave., which will free up over 110 parking spaces, Jewell said.

The next steps

The EDC’s approval now moves the proposal forward to the city council for further review and decision.