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18 City of San Leandro | Economic Development Initiatives and Work Plan | December 2013 <br /> <br />The project will include a welcoming <br />paseo from the development to the BART <br />station as well as a greenway between <br />the site and BART to encourage walking <br />and biking and attractive and inviting <br />outdoor areas. <br />Accomplishments To-Date: Staff <br />continues to work with the project <br />partners on development concepts and negotiations are underway for a Development <br />Agreement that will clear the way for a smooth and efficient development process. The <br />Development Agreement and Planned Development Permit are expected to be brought to the <br />City Council for approval in early 2014. <br /> <br />Cornerstone/San Leandro Crossings – The Cornerstone building, which is part of the San <br />Leandro Crossing development project at the San Leandro BART station, will consist of 200-unit <br />affordable housing rental units. The updated Cornerstone affordable rental housing project <br />represents the first residential development to occur under the Downtown TOD Strategy. The <br />Cornerstone will enhance downtown with its attractive architectural design, increase public <br />transit use and the number of people patronizing <br />downtown businesses. The Cornerstone has <br />leveraged over $30 million in public funding ($9.1 <br />million loan from the former Redevelopment <br />Agency and over $22 million in Proposition 1C grant <br />funding from the State,) and will help the City meet <br />its State and federal affordable and workforce <br />housing goals. Construction is expected to begin <br />late in 2013. <br />Accomplishments To-Date: An Owner Participation and Loan Agreement (OPLA) was executed <br />with developer BRIDGE Housing in 2009. Since that time, the City and the developers have <br />successfully revised the project plan to reflect changing market conditions and successfully <br />resolved a dispute with the California Department of Finance over funding for the project. <br /> <br />1595 Washington Ave (Former East Bay MUD site) – The City and Successor Agency <br />own two adjacent parcels at 1595 Washington Avenue and 268 Parrott Street in Downtown San