URA Announces Two Projects to Redevelop Vacant Buildings and Invest in Vibrancy in Downtown and the Strip District

The projects, which will be presented to the URA Board of Directors this week, will support the O’Connor Administration’s priority to bring additional investment to local business districts and create vibrancy in the greater Downtown area to attract small businesses, residents and visitors.   

Following a request for proposals (RFP) in March 2026 to reactivate the OMI Building, the URA is entering into exclusive negotiations with TAGYLZ LLC to redevelop the city-owned property. TAGLYZ has proposed a $4.35 million mixed-use project in the space, with:  

• Two ground-floor commercial spaces for small businesses to activate  

• Adaptive reuse of the existing building and facade with the addition of a third story 

• Ten residential market rate apartments on the top two floors  

• Potentially repurposing parking into a public garden or parklet   

The exclusive negotiation period will last for six months to allow TAGLYZ to test site conditions and determine their plan’s feasibility.   

As part of ongoing revitalization efforts Downtown, the sale of 604 Liberty Avenue to MK Liberty Partners will help bring a vacant storefront back online to enhance the Liberty business corridor for pedestrians and visitors. MK Liberty intends to rehabilitate the first-floor commercial space to lease to a local small business on the busy corner near Heinz Hall, Market Square and other Downtown destinations.   

The 604 Liberty Avenue renewal project is expected to invest over $480,000, including the $200,000 to purchase the property from the URA.   

The two economic development projects are being presented to the URA Board of Directors at their regular meeting this afternoon. A full URA Board agenda can be found here.