CORPUS CHRISTI, Tx — Two new downtown projects will receive funding from the downtown Tax Increment Reinvestment Zone.
The City of Corpus Christi TIRZ #3 unanimously approved funds for these improvements at its meeting Tuesday.
The first improvement includes monies to upgrade a parking lot previously used by employees at the Corpus Christi Caller-Times.
The lot, located at 715 N. Mesquite Street has not been accessible to the public or properly maintained for several years, according to the Corpus Christi Downtown Management District.
The developers, and new owners of that lot, ZJZ Properties QOF, LLC, plan improvements such as resealing and restriping of the parking lot surface, lighting, security cameras, removal of the perimeter fencing, and new landscaping.
“[The parking lot] is a key location, especially regarding downtown nightlife and different activities that we have throughout the district,” said Alyssa B. Mason, Executive Director of the CCDMD, during the meeting. “The current condition of the parking lot at night [is] the primary focus of the improvements. It’s about an entire city block that is virtually pitch black with parking spaces that are completely cut off. We really think this is going to be functionally a very good asset for our operations.”
The project should cost $92,977 and is projected to be reimbursed $46,489 through the use of the Streetscape and Safety program. The project is expected to be completed by July 2025.
TIRZ #3 also approved a project for retail space at Hotel Arya, which is located at 601 N. Water Street.
According to the Downtown Management District, extensive repair is needed for that space. Improvements include new mechanical, electrical, and plumbing installations as well as a new HVAC system.
That project is expected to cost $176,308 and includes a projected reimbursement of not more than $20,000.
Hotel Arya is expected to open in Spring of 2025. Completion of the retail space is expected in July of 2025.
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