Bloomington city council members are now giving the Seminary Pointe and College Square property deal a vote of confidence.
Council unanimously approved a letter to the city’s redevelopment commission using the convention center north parcel called College Square as a city subsidy for affordable housing.
It would keep Seminary Pointe as an affordable housing community while the Capital Improvement Board builds a convention center host hotel on College Square.
That’s contrary to a 2024 letter where council asked the RDC to be repaid the $7 million it spent on acquiring College Square.
That led the CIB to look at other properties for the host hotel since it doesn’t have any assets – other than real estate to the west and south of the convention center.
Council member Isabel Piedmont-Smith said the proposal is an exciting opportunity that negates recouping the cost of the College Square site.
“The vision of preserving Seminary Pointe as affordable housing, affordable business commercial property and a community space is something that should be given a chance,” she said.
But it might be too late. The CIB is moving forward on environmental reports, land appraisal, and demolition permits on the Seminary Pointe properties.
Read more: Seminary Pointe leases extended until end of August
It’s also seeking proposals with a June 30 deadline for a hotel on other properties to the west and south of the convention center.
The RDC is seeking public proposals through July 20 for the College Square property.
The RDC meets on June 15.
