Redevelopment of the Hawn Hotel & Arcadia Theatre

The City of Temple issued a Request for Proposal (RFP) for the redevelopment of the Hawn Hotel and Arcadia Theater properties. Turner Real Estate, LLC (TRE) submitted a proposal and was awarded the contract. The contract includes a tax abatement agreement for 10 years and an economic development agreement that requires TRE to complete at least $6,000,000 worth of improvements to the properties. The improvements will consist of mixed-use development, including residential, retail, and entertainment uses. The City of Temple will provide reimbursement funding for eligible expenses related to the abatement of asbestos and lead, as well as for façade improvements, signage, demolition, and design work. • The contract has a term of 10 years for the tax abatement and 3-4 years for the completion of improvements. • The City of Temple will provide reimbursement funding for eligible expenses. • The contract includes an economic development agreement that requires TRE to complete at least $6,000,000 worth of improvements. • The improvements will consist of mixed-use development, including residential, retail, and entertainment uses. • The City of Temple will design and construct certain public improvements, such as intersection enhancements, landscaping, signage, monuments, and dry utility relocations.