Developers Give City Ultimatum
An attorney says the redevelopment project could be left in limbo.
The Temple Terrace City Council can approve Inland Atlantic Development Corporation’s plan to build 214 apartments in the downtown redevelopment area at its meeting tonight (March 20) or Inland will walk away from the project.
That’s according to a March 16 letter from Atlanta attorney W. Daniel Hicks Jr. representing the Vlass group, which is developing the project and working with Inland to build the residential component. The Vlass group will also reconsider its interest in the project, the letter states.
“If the votes are ‘no’ (or if no decision is made), Inland will have no further interest or involvement in the residential phase of the development and, if that occurs, Vlass, having already brought to the table one of the largest and most financially-capable real estate companies in the United States, and having arranged for a sterling second phase of development that the City would not approve, will also have to reconsider its position and all of its options regarding the project as a whole, including its on-going involvement in the development, as a result of which future development of New Downtown by Vlass could be seriously jeopardized,” Hicks wrote.
The City Council will meet tonight as the Temple Terrace Redevelopment Agency at 5 p.m. before their regular meeting at 6 p.m.
It is unclear whether council members will take a vote on the housing element of the project. At a special meeting Feb. 16, the council heard the developer’s proposal to build 214 apartments at the site. They voted to continue a public hearing and postpone their vote until March 20. Now, city staff has said the council could continue the hearing again until April 3.