The timeframe proposed for the housing portion suggests starting now in order to place it at an advantage over related development. That schedule is not achievable since the Library's schedule and process is not underway until the fall. The proposed housing timeline is aggressive to take advantage of the optimal window. The proposed costs seem high. There is a lot of turnover and empty retail space in the area.
Turnover is inevitable.
The retail component maximum should be 20-25,000 SF with four or five small shops, two restaurants, the gift store and coffee shop. The housing component will require some retail functions on the Mall. The use could support the residential base. It is difficult to generate numbers given the current recession. It is relatively easy to determine the worth of the space and develop a minimum specified rent with an additional percentage of sales.