Liberty Place William Street Elevation

City Council Approves Liberty Place Development, Tax Incentive

by | Sep 19, 2016 | Business

By Susan Larson. Drawings from Wack General Contractor.

The $46.3 million Liberty Place mixed-use development planned for the former Free Lance-Star Executive Building property in the downtown Fredericksburg received a green light from City Council on May 24, 2016.

Bordered by Douglas, Winchester, William and Amelia streets, the project will include 44 residential condominiums, 16,000 square feet of ground-level retail/office space, 30,000 square feet of office space, and 4,800 square feet of restaurant space. In addition, the three-level parking facility will include 273 parking spaces — 119 would be 24-7 public parking and another 30 would be available to the public on weeknights after 6 p.m. and all day on weekends.

Council members unanimously approved one resolution and two ordinances for the project.

Granting A Special Use Permit To Liberty Place Partners, LLC, For Residential Density Of 31 Units Per Acre For The “Liberty Place” Project
“Council finds: (a) the request as submitted or modified does conform to the City’s Comprehensive Plan, or to specific elements of such plan and to official policies adopted pursuant thereto (b) the request is in harmony with the purpose and intent of the zoning district regulations, (c) this request will not have an undue adverse impact on the surrounding neighborhood, in terms of public health, safety or general welfare; and (d) this request is appropriately designed, sited, landscaped and otherwise configured.”

Vacating A Portion Of The Amelia Street Right Of Way For The Liberty Place Mixed Use Development
“The City Council hereby vacates a portion of the Amelia Street public right of way consisting of approximately 1777 square feet, as shown on the plat entitled “Right-of-Way Dedication and Vacation on the Lands of Liberty Place Partners LLC” prepared by Bowman Consulting, dated November 18, 2015, last revised March 15, 2016. This vacation is conditioned as follows: 1. The landowner shall dedicate public right of way on Douglas Street and Winchester Street as shown on the plat, by recordation of an approved subdivision plat within 36 months of the date of this ordinance.
2. The use of the vacated public right-of-way shall be limited to the development of the Liberty Place project, in substantial accordance with the GDP entitled, “Liberty Place,” by Bowman Consulting, Job No. 5425-01-001, dated March 28, 2016, last revised April 29, 2016, and the associated architectural drawings entitled “Liberty Place, Fredericksburg Virginia,” by mv+a dated May 10, 2016.”

Granting Liberty Place Partners, LLC A Sixty Year Lease For The Air Space Above The Public Right Of Way In The 600 Block Of Amelia Street, For The Construction, Operation, Maintenance And Replacement Of 11 Residential Balconies
The balconies overhang the landscape area between the building and the sidewalk, not over the sidewalk. The lease is for 60 years, at the end of which it may be renewed or the balconies removed.

City Council approved a third ordinance — the Tax Increment Financing (TIF) Incentive — by a vote of six to one.

Because of higher-than-expected project costs, the developer — an affiliate of Wack General Contractor — asked for a 45 percent reduction of Liberty Place’s real estate tax bill for the next 10 years. “Under current projections, that would allow the developer to receive about $193,000 per year,” said Assistant Director for Economic Development Bill Freehling.

Councilor Matt Kelly voted against the incentive.

The city will collect and retain all other taxes — meals, sales, Business, Professional and Occupational License (BPOL), etc. — from Liberty Place businesses.

The city is investing approximately $2 million for public parking spaces at Liberty Place. The lease for shared parking will soon come before council.

City Council Members Disappointed with Liberty Place Revised Plan

City Council to Address Liberty Place, FY 2017 Budget at April 26 Meetings

Public Hearing April 12 on Liberty Place Incentive Package

Subscribe To Daily News Updates

Join our mailing list to receive the latest news from The Free Press

You have Successfully Subscribed!

Share This