The Indio City Council approved an Exclusive Negotiation Agreement this week that the city says would bring “critical mass development” to the downtown area.
The agreement, with PSDG Indio, LLC., would allow the city and the development group to explore potential development of a 6.34-acre defined area, all-City owned, in the heart of the Downtown, according to a press release.
To facilitate this critical mass development, the City has strategically secured ownership of properties in the Downtown, totaling 26 acres, and is currently in the final stages of adopting a Downtown Specific Plan that will help guide its future development. The City also adopted a new General Plan and Final Environmental Impact Report (EIR) last September.
Under terms of the ENA, PSDG will be evaluating potential development opportunities highlighted in the soon-to-be adopted Downtown Specific Plan. Desired land uses include those related to retail, hospitality, restaurant, multi-family residential/mixed use and civic purposes.
Under terms of the agreement, the developer gets exclusive rights for up to one year, with possible extensions, to negotiate, acquire and develop 6.34 acres of City-owned property in downtown.
“We are on the same page as the City in its strategy to create critical mass development to revitalize Downtown Indio,” PSDG Managers Keith Falls. “After meeting the wonderful people here, learning the City’s rich history, and envisioning its future potential, we decided to work with the City of Indio for the long term.”
No word yet on what, exactly, developers are looking to bring to the downtown area – but, as one of the few retail areas in the Coachella Valley with any character, there certainly is a lot of potential there and, with the agreement set for a year, we should see what sorts of plans might be in store soon.