The City Council is expected to approve a buyout deal for the riverfront shopping center Tuesday.
Pending City Council approval Tuesday, The Jacksonville Landing could be demolished by September.
Downtown Investment Authority interim CEO Brian Hughes said Wednesday that the 32-year-old riverfront marketplace could be razed in four to six months.
“That’s plenty of time for the administration, council, DIA and community stakeholders to really have a discussion about what to do next,” said Hughes, chief of staff for Mayor Lenny Curry.
Hughes said Curry still would like to see something like the idea floated by the administration last year that included green space and mixed uses at the 2 Independent Drive W. property.
“It’s something the mayor is still interested in pursuing,” he said. “A mix of public space and economic development.”
Council is expected to approve legislation Tuesday for a $15 million city buyout of Jacksonville Landing Investments LLC’s long-term lease on the property.
That ordinance includes $1.5 million for terminating tenant leases, relocation costs and other expenses and $1.5 million to demolish and clear the site.
Hughes said the goal is to keep as many of the tenants Downtown as possible.
“If that requires some assistance, then (we’ll) figure out what we can do and how we can get it done,” he said.
He said the city would “like to facilitate everyone who would like to stay inside the urban core and for their retail business to stay.”
Council members Greg Anderson, Joyce Morgan, Lori Boyer, Reggie Gaffney, Bill Gulliford, Jim Love, Sam Newby, Terrance Freeman, Randy White, Tommy Hazouri and Scott Wilson have supported the legislation through the council Finance committee and the Neighborhoods, Community Service, Public Health and Safety committee.
Those 11 votes are enough to pass the bill at a full council meeting of 19 members.
Garrett Dennis was the only no vote. He is a member of the NCSPHS committee.
Hughes said after legislation is approved, the city will have a 45-day due diligence period and can start working with tenants.
He said the work also will involve transferring the parking management and revenue of the Landing parking lots to the DIA, which oversees parking facilities in Downtown, and seeking demolition estimates and other work.