Powerhouse Gym Commercial Development Hits Roadblock

A proposal to construct a 6-story office complex at 2075 Broadway – the current site of Powerhouse Gym – has been stalled due to lack of parking.  The proposal, which was submitted last August, called for 175,000 square feet of office space and 147 underground parking stalls.  Developer Lane Partners had been working on a deal to secure off-site parking for the project, but the deal evidently fell through.

This buys the Powerhouse Gym and it’s patrons some time, as Lane Partners will now have to rework their plan in order to move forward with the project.

If Lane Partners submits a revised proposal, it will have to be reviewed by city managers to verify it’s compliance with the Downtown Precise Plan before it can be sent to the Planning Commission for approval.  The Precise Plan allows for 500,000 square feet of office space to be added to the downtown area, and well over that has already been proposed to the Planning Commission.  This latest setback for Lane Partners could prove to be disastrous, as it gives projects that were behind them in the planning pipeline an opportunity to claim the remaining commercial square footage.

At the end of last year, City Council had voted to tweak the existing Precise Plan to allow for more commercial space.  The reason for this was that while proposals for commercial developments were well exceeding the allowed square footage, the proposals for retail and residential development weren’t coming close to the amount allotted to them in the Plan.  The revised plan would add an extra 168,930 square feet to the office space amount, maintain the hotel units, drop residential units by 740 and take off 85,000 square feet from the retail space.  This revised plan was ultimately scrapped by city planners.

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