Leading MidTown developer Greg Banta announced Friday he has sold his interests in the emerging entertainment district to partners Bob Howard and Mickey Clagg.
Banta, who is credited for turning the once run-down neighborhood into a mix of shops, restaurants, bars and offices, said he has "mixed emotions” about the transaction but is confident the area is poised to continue its revitalization.
"Bob Howard and Mickey Clagg have been my partners since the beginning,” Banta said. "They both recognized the opportunities MidTown possessed. They were, and still are, instrumental in its overall vision and will see the redevelopment through to its completion.”
Banta said the time was right to leave the partnership and that he has new undisclosed projects he wants to pursue. He added his firm, The Banta Companies, still will remain involved in marketing MidTown and will expand into other areas of downtown.
Clagg said he and Howard are not yet ready to discuss their long-term plans, but confirmed they remain committed to the MidTown Renaissance development.
"We will continue with the vision that Greg started,” Clagg said. "We're going to complete the projects on a mixed-use basis and we want to define each property as to whether it should be residential, commercial or offices.”
Banta credited Howard and Clagg with affording him the opportunity to treat the more than 30 aging properties as one master development and gave him time to ensure the renovations were completed properly.