10A Action 2008 0204 - Laserfiche WebLink

Home

Westlake Development Partners, LLC 2 February 4, 2008 Strategy. As part of this Agreement, consideration will be made concerning the abandonment of Martinez Street and West Estudillo Avenue, whereby upon completion of the Martinez Street Abandonment, the Martinez Street property shall become part of the Developer Property and the BART Station Project. • In September of 2007, after a 20-month planning effort, the City Council adopted the TOD Strategy, which specifically identified opportunity sites with housing, office and mixed-use development potential. The parcels associated with this agreement are part of Opportunity Site #24. BART owns and operates the Downtown San Leandro BART station area that includes a number of surface parking lots that are identified in the TOD Strategy as "opportunity sites" and "Special Policy Areas." These areas are identified in the TOD Strategy plan as sites under Special Policy Area 8, Site A, a portion of Site B, Site C, Site D, and Site E that have the potential to be developed in the near term, the potential to stimulate other development, and the potential to increase transit ridership. • The TOD Strategy also identifies property owned by the Chang family as an opportunity site. Westlake Development Partners, LLC represents the Chang family and has been authorized by the Changs to pursue development of their property. Inclusion of the Chang property in the City's TOD efforts led to numerous discussions between BART, the City of San Leandro and representatives of the Chang property. One key topic of discussion involved determining if greater physical and financial flexibility could be achieved by combining the BART property with the Chang property and the City property (Martinez Street) separating the BART and Chang properties. It was determined on a preliminary basis that greater development and transit access flexibility could be achieved by combining these properties. • The City of San Leandro Redevelopment Agency, San Francisco Bay Area Rapid Transit District (BART) and Westlake Development Partners, LLC intend to enter into an Exclusive Negotiating Agreement to assess the feasibility of development on the developer's property, the East BART Parking Lot and other BART-owned surface parking areas in a manner consistent with the goals and objectives of the TOD Strategy. • This Agreement would further the goals of the TOD Strategy by increasing transit ridership and enhancing downtown San Leandro. The agreement would allow for a mix of uses including medium and high density residential and commercial mixed-uses, the relocation of a portion of the existing parking spaces on East BART Parking lot to a portion of the developer's property, vacating Martinez Street and that portion of West Estudillo Avenue between Alvarado Street and Martinez Street as public streets and contributing the Martinez Street property and the West Estudillo Avenue property to the developer property and to the BART Station Project, and would create a Parking Benefit District by the City. • Westlake Development Partners, LLC would be the master developer, and would utilize a phased approach and consolidation of BART parking and shared parking. The development is expected to be completed in four phases. The first phase could consist of approximately 200 residential units and up to 200,000 square feet of commercial retail space on the existing BART parking lot on the east side of San Leandro Boulevard. Displaced BART parking from this east side lot will be replaced, temporarily, on a surface lot controlled by WDP. Future phases of development will be pursued on