The downtown Corpus Christi Tax Increment Reinvestment Zone No. 3 recently approved incentives for two renovation projects and reviewed a conceptual vision, Reimagine Water Street. Courtesy photo
Upcoming improvements in downtown Corpus Christi are expected to bring in up to $3.3 million in development, said Downtown Management District Executive Director Alyssa Barrera Mason as she announced two new projects in the area.
Mason presented two projects to the Downtown Tax Increment Reinvestment Zone No. 3 board. Members approved incentives for both projects, which includes turning two long-standing vacant buildings into available space for restaurants, 15 residential units, and family-friendly entertainment.
The areas include Retrocade, 326 N. Chaparral St. in the Marina Arts District, and The Preston, 1301 N. Chaparral St. in the S.E.A. District.
“We are thrilled about these two projects as they are bringing two Coastal Bend natives back to the region to invest and develop in their hometown community,” she continued, without naming the two individuals. “Activating these vacant buildings is a great reflection of the dedication for revitalizing Downtown Corpus Christi.”
Reimagine Water Street is another project that connects the waterfront, greater downtown, and Interstate 37. The current environment is not particularly accessible, comfortable, or pedestrian-friendly. Design Workshop provided the plans to change that.
“This project has the opportunity for catalytic change in our community,” Mason said. “Being able to enhance the visitor experience, provide solutions for flooding, and connect the Marina Arts District to the waterfront can and will completely reimagine a vital asset for downtown.”
Benefits of the project would include increasing tree shade cover from 3 percent to 67 percent, decreasing crosswalk distance by 26 percent, creating rain gardens for storm water retention to reduce flooding, and attracting investment along the empty street.
As this project is still in the conceptual phase, the DMD will continue to work with the city of Corpus Christi to identify potential funding sources, including a bond issue in this year’s election.
These DMD projects add to the momentum of revitalization with $83 million invested in new development since 2016 and an additional $159 million currently underway.
