The former municipal power plant is being redeveloped into a mixed-use anchor for the district. Two new buildings, an underground parking garage and green roof plaza are being added to the existing generator building. The site will feature a mix of office space, retail, residential, a public plaza and an outdoor terrace overlooking Lady Bird Lake. The preservation and adaptive reuse of the historic power plant building is the impetus for the project and the main community benefit. Other community benefits include the plaza and enhanced south lawn and a $100,000 contribution for Art in Public Places. The Master Development Agreement (MDA) also requires a higher standard of greenbuilding; the strategy includes the reuse of underground cooling infrastructure for an innovative rainwater harvesting / stormwater quality treatment system that serves both the development parcels and surrounding public infrastructure. The MDA also includes a provision for profit sharing to recoup the public investment. The new tax base is estimated at over $100 million. The Economic Development Department’s Redevelopment Division leads this project on behalf of the city.