Coeur d’Alene Urban Renewal Agency (ignite cda)
Atlas Waterfront Redevelopment
As part of a multi-disciplinary team, Heartland has been engaged by the urban renewal agency of Coeur d’Alene, Idaho, ignite cda, to prepare and execute on a market-based redevelopment strategy for the 70-acre Atlas Waterfront neighborhood. During the early conceptual phases, Heartland completed the initial market assessment and prepared a detailed financial analysis for the project. The financial analysis has helped to ensure that available funds, land sales, and tax increment financing will cover the substantial public infrastructure, amenities, and pre-development costs required for a complex, multi-phase redevelopment. From project inception, Heartland supported community outreach efforts and engagement with real estate developers while taking a lead role in managing the Request for Proposals (“RFP”) process including creating key offering documents. The RFPs provide a framework to evaluate developer proposals, establish a transaction process and deal structure to mitigate risk to the agency, as well as introducing mechanisms to ensure adherence to the development standards, supporting the creation of a new and vibrant waterfront district. Through Q3 2021, over 50% of developable land has been sold or put under agreement. Heartland is currently collaborating with ignite cda on planning the remaining RFPs for the Atlas Waterfront neighborhood while continuing to work through ongoing negotiations with developers.