City Enters Into ENRA on The dot Project
Ferndale City Council has voted to enter into an Exclusive Negotiation Rights Agreement (ENRA) with Versa Wanda LLC to coordinate the design and construction of the mixed-use development known as the Development on Troy, or The dot. The decision was made unanimously at the Monday, Sept. 10 City Council meeting based on a recommendation by Assistant City Manager Joseph Gacioch and the City's Parking Team.
During the 150-day ENRA period, the City will work exclusively with the developer to establish an economic and development framework and work towards entering into a Development Agreement.
Since October 2017, the City has reviewed proposals from multiple developers for The dot. Versa Wanda was selected because of their willingness to follow the City's Amended Planned Unit Development (PUD), or PUD Slim, as well as their interest in delivering office tenants to downtown and building office space on-spec if necessary. Initial discussions confirm the Development Team’s intent to develop up to 39,000 square feet of elevated office space on top of the public parking garage, up to 20,000 square feet of residential as a separate parcel located on Allen Street on the western border of the parking garage, and 14,000-18,000 square feet of street-level commercial space located along W. Troy Street.
City Council approved a Planned Unit Development concept for 221 W. Troy Street (The dot) in October 2017. The project is a mixed-use development consisting of public and potential private elements that provide parking capacity, downtown office space, density, walkability, sustainability, and public space investments. Each item addresses an objective in the City’s most recent Master Land Use Plan and Strategic Plan.
The project is forecast to begin foundation excavation as early as January 2019, with site preparation beginning as early as mid-December. The City is committed to this timeline, regardless of developer negotiations. The most current project schedule forecasts the City beginning foundation work for The dot in January 2019, with the bidding and selection process occurring in October–December.