Festival Park Commons is a proposed redevelopment of three lots Downtown, just south of Town Hall. The proposed project is a result of a request for proposals (RFP) the Town distributed in 2017 specifically for a new parking structure.
About the project
As a result of the RFP, Town Council chose a developer to move forward on the project. That developer – Castle Brae – is still working on concepts. Overall, the project is expected to include a public parking garage, residential units, retail and office space. View preliminary details in the Preliminary Project Application.
About the process
There are two processes for this proposed development.
One is the possible negotiation of a public finance agreement, which would be negotiated with Town Council.
The other is the development process through a formal land use application. That Site Development Plan application has not been submitted to the Town, so there is no proposed schedule. If and when that application is submitted to the Town, it must go to the Design Review Board for approval. The land use application would not require Town Council approval.