The City of Brentwood Board of Aldermen voted unanimously July 17, 2023, to approve a $436 million redevelopment agreement with Green Street Real Estate Ventures LLC.
The redevelopment area consists of approximately 77.2 acres located on both sides of Manchester Road between Mary Avenue (just east of Brentwood Boulevard) and Hanley Road in Brentwood. The Green Street project will focus on redevelopment of 40+ acres in this area.
The agreement provides for the use of real property tax abatement to incentivize the redevelopment and revitalization of the area.
Green Street Real Estate Ventures presented their proposal for redevelopment of Brentwood's Manchester Road Corridor at the Brentwood 353 Redevelopment Corporation Board meeting on July 19, 2022, and to the Board of Aldermen on August 15, 2022. On August 30, 2022, Green Street hosted an open house session for community members to learn more and ask questions about the proposal.
On September 19, 2022, the Board of Aldermen unanimously voted in favor of the resolution to designate Green Street as the preferred developer of the Manchester Redevelopment Area.
After the September 19 meeting, the City of Brentwood began the process of negotiating an agreement with Green Street.
On June 21, 2023, the Brentwood Redevelopment Corporation held a public meeting to review the proposed Manchester Road Corridor Redevelopment Area Development Plan. At this meeting, the Brentwood Redevelopment Corporation recommended by a vote of 5 to 1 that the Board of Aldermen approve the plan.
On July 5, 2023, the Board of Aldermen held a public hearing regarding the Development Plan and the proposed Master Redevelopment Agreement. The July 5 meeting included a first reading of the proposed ordinance.
At the July 17, 2023, Board of Aldermen meeting, the Board held a second reading of the proposed ordinance and voted unanimously to approve the Master Redevelopment Agreement.