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PublicSubmittal 4A Public Hearing 2014 0407 Support Letters
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PublicSubmittal 4A Public Hearing 2014 0407 Support Letters
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4/7/2014
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4A Public Hearing 2014 0407
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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />April 4, 2014 <br /> <br />San Leandro City Council <br />City Hall <br />835 East 14th Street <br />San Leandro, CA 94577 <br /> <br />Dear San Leandro City Council: <br /> <br />I am writing to convey BRIDGE Housing Corporation’s support of the proposal by Westlake <br />Development Partners LLC to develop 500,000 square feet of Class A office space as part of a <br />Technology Campus in downtown San Leandro. This project will convert a vacant site into a <br />high-tech job center, bringing hundreds of well-paying jobs into downtown and supporting local <br />businesses. <br /> <br />BRIDGE Housing Corporation is one of the nation’s leading developers and managers of <br />affordable homes. Since its founding in 1983, BRIDGE has developed over 14,000 units and <br />over 100 properties valued at more than $3 billion. BRIDGE has twenty-five projects currently <br />in development, comprising over 3,600 housing units. In addition to developing homes, <br />BRIDGE Property Management Company (BPMC) ensures that the qualities of its developments <br />are preserved over time. BPMC directly or jointly manages a total of 63 properties, totaling <br />8,254 units. BPMC employs approximately 150 people and has a proven track record of <br />managing complex buildings in dense, urban corridors while promoting job training and after- <br />school programs for our tenants. <br /> <br />In 2008, BRIDGE and Westlake were planning to develop 700 units of housing in downtown <br />San Leandro funded, in part, by State Prop 1C grant funds. The project was unable to move <br />forward due to the economic downtown. However, Westlake played a key role in renegotiating <br />the terms of the state grant, and transferring the development rights of the affordable housing <br />portion (The Cornerstone) to BRIDGE. <br /> <br />Due to Westlake’s efforts six years ago, BRIDGE is now in the process of securing financing for <br />The Cornerstone and is expecting to commence construction of Phase I in late 2014. The <br />Cornerstone will be located across the street from the Westlake Technology Campus at 1400 San <br />Leandro Boulevard. In addition to developing 200 affordable units, The Cornerstone will <br />underground over 400 parking spaces and create ground floor retail and community space, <br />thereby activating the streetscape for community members, pedestrians and transit commuters. <br />
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