Austin's Capital Metro issues RFP for transit-oriented development near rail station

Capital Metro has released a request for proposals for a transit-oriented development (TOD) around the Plaza Saltillo in East Austin, Texas.

The area consists of 11 acres, 10 of which will be redeveloped as a TOD, while the one-acre Plaza Saltillo will continue to operate unchanged as a MetroRail station, Capital Metro officials said in a press release.

The RFP offers developers the "rare opportunity" to develop eight contiguous blocks of undeveloped property in one of Austin's most "dynamic and culturally rich" neighborhoods, they said.

"Improving neighborhood quality, maximizing long-term value and increasing ridership will be a main focus in evaluating proposals," said President and Chief Executive Officer Linda Watson. "We encourage developers to include a number of features that benefit the surrounding community based on considerable community input over the past several years."

Plaza Saltillo is located on the Red Line, which has tripled ridership since it was launched in 2010. The property is zoned for high-density, transit-friendly and mixed-use development. Revenue generated from the plaza's redevelopment will go into Capital Metro's general operating fund to support future transit improvements.

Capital Metro will select finalists and solicit additional information. The public will be asked to comment on the finalist's proposal. Capital Metro's board expects to select the developer in mid-2014, agency officials said.