The Historic District is one of the top priorities of our City Council and extremely important to our residents and our history. Projects like this are expensive and complex. The City and developer will be maximizing the use of a variety of financial tools, including the Sugar Land Development Corporation, funded by a quarter cent sales tax restricted for economic development purposes, state historical tax credits, General Fund, and private financing to meet the vision for the site.
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The Historic District is one of the top priorities of our City Council so this is a joint effort between the City and a private developer. As such, the City has initiated rezoning on the property in order to provide the initial zoning framework for the redevelopment to take place.
The City has tried for many years to create a working relationship with the private owner of the Imperial site. There is currently a new interested party and developer that has approached the City to jointly develop and preserve the Char House.
Five Regional Activity Centers (RACs), including Imperial, were approved by City Council in the 2018 Land Use Plan as a way to create walkable areas that have a mix of several land uses, including office space, entertainment, retail, hotels, civic areas, and residential housing. RACs are important to Sugar Land's growth and ensuring that we have spaces that complement each other and ensure higher property values and tax revenues for the City.
The revised Land Use Plan policy document will provide for the ability to have up to 1,200 units of multi-family housing within the overall 201-acre Imperial Regional Activity Center. These 1,200 units includes existing multi-family housing as well as proposed and future housing throughout the entirety of the RAC.
The proposed Imperial Historic District GDP (General Development Plan) zoning ordinance would allow 660 additional multi-family units in the 40-acre PUMA Development project area in and around the Char House. These units are in addition to the 254 existing Imperial Lofts and the previously approved 274 units within the Sueba-owned property. All of these are part of the overall 1,200 units in the revised Land Use Plan for the Imperial RAC.