Downtown Phase II
Downtown Phase II has been the vision of City leaders – and residents – for many years. It was born out of the 1995 Comprehensive Plan to restore industrial sites in downtown Hudson and return it to its economic prominence.
Completed in 2004, Phase I transformed the Morse Controls site into First and Main with retail, office, housing and green space. Building on the success of First and Main, Downtown Phase II will revitalize the remaining 20 acres of industrial properties (Windstream, Hudson Public Power and School Bus Garage) into Class A office space and housing for empty nesters and young professionals.
Creating a live-work-play environment, Downtown Phase II will bring high-paying jobs, new tax revenues from offices and homes, and customers to support the current downtown stores and restaurants.
What will be in Downtown Phase II?
- 110,000 sq. ft. of Class-A office space
- 75 housing units
- 20 loft condos
- Green space and pocket parks
- Architecture that blends with First and Main and surrounding neighborhoods
- Connections to Hudson's bike and hike trails
- Smart technology
- Signal timing changes, smart signal technology to adjust traffic flow in real-time
Why Downtown Phase II?
Downtown Phase II will be a vibrant, walkable neighborhood that will complement the success of First and Main with dynamic new uses, including offices, town homes, condominium flats, and green space.
Blending with the First and Main architecture and style, the development will be connected to our past through its Western Reserve architecture and designed and built with 21st Century technology for the future.
The Class A office space and housing will bring new jobs, generating tax revenues more than 10 times what those properties generate today. When completed, Downtown Phase II will generate annual property tax revenues estimated at $1.8 million and annual income tax revenues of $700,000 - $1,000,000.
How will it be funded?
It is a public and private development that will be payed for primarily by the developer. The City's costs for infrastructure and moving the salt dome and bus garage to a new location in newly constructed buildings would be recouped through tax-increment financing (TIF). With a TIF, City costs for the development would be paid back through future revenue generated by the new jobs from the office space in the development. The new homes will generate additional property tax revenue for the schools. Learn more about who pays for the project here.
Benefits of Downtown Phase II
- Replaces unsightly bus garage & industrial buildings with offices and homes.
- Creates a vibrant live, work, play environment.
- Supports downtown stores and restaurants.
- Generates $700,000 to $1 million new income tax revenues annually from added jobs.
- Generates $1,800,000 new property tax revenues, a portion of which supports the schools, from the new homes.
- Offers housing options for seniors and empty-nesters.