Oldtown Urban Renewal Plan

In order to assemble a site large enough for a major new grocery store-anchored shopping center, BDC worked with Councilman C. Bernard “Jack” Young to introduce a bill into City Council to amend the Oldtown Urban Renewal Plan to acquire, by eminent domain if necessary, 18 properties in the 400 and 500 blocks of Gay Street. BDC is working with a developer, through an Exclusive Negotiating Privilege (ENP), to attract a new supermarket and additional retail. Likely to require Tax Increment Financing (TIF) financing, the plan includes the reopening of Oldtown Mall (Gay Street) to vehicular traffic.

This effort is led by the Commercial Revitalization Team. For more information please contact Kristen Mitchell, Senior Economic Development Officer.