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,~ <br /> <br />San Leandro Developer Symposium Notes <br />September 8, 2006 <br />Panelists: <br />Craig Adelman, AF Evans <br />Chris Morse, Shea Commercial <br />Carl Johansen, Triad <br />Rosie Rios, MacFarlane <br />Ben Golvin, Equity Community Builders <br />Carol Galante, Bridge Housing <br />Matt Holmes, Retail West <br />Hosts: <br />Hanson Hom, City of San Leandro <br />Kathleen Livermore, City of San Leandro <br />Janet Smith-Heimer, BAE <br />Ron Golem, BAE <br />Tim Hurley, BMS <br />Michael Smiley, BMS <br />An overview was first provided of the potential prototype projects. The following is a summary of <br />discussion at the Developer Symposium, organized by theme. <br />Current Market Is Volatile -and More Density is Not Necessarily the Solution <br />^ A couple panel members are involved in the TOD project at the MacArthur BART station <br />parking lot: <br />- Attempted aggressive residential densities of 20 - 24 stories but moved back down to <br />5 stories because costs increased more than revenues. <br />- On parking trying to make project feasible by only replacing 50% of existing BART <br />parking. <br />- Responded to greater desire for near term completion and high-rise and market <br />product prices did not match North Oakland location. <br />- Many high-rise projects have been tabled because the costs are not justified in the <br />current market conditions. <br />^ Type V (typical wood frame) construction is problematic for insurance reasons. Type III <br />(modified wood frame construction for higher fire rating) construction tends to be okay. <br />^ BART station site: views around station are industrial -not premium enough to justify higher <br />pricing. High-rise is difficult, especially with site context such as the BART/Westlake site <br />(adjacency to warehouse/light industrial, railroad, etc.). <br />^ Re the Albertson's site prototype with three stories of residential over retail with one story of <br />parking, the property owner was surprised that it's feasible. Usually developers build <br />underground parking to get more height on building, not for only three stories above retail. <br />^ Construction costs and increasing interest rates for residential buyers make the risk factor too <br />high to make anything feasible at the moment. <br />