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Sx <br />i! <br />A' City of San Leandro <br />Meeting Date: November 7, 2011 <br />00 11 . Staff Report <br />File Number: 11 -342 Agenda Section: ACTION ITEMS <br />Agenda Number: 10.A. <br />TO: City Council <br />FROM: Lianne Marshall <br />Interim City Manager /Executive Director <br />BY: Luke Sims <br />Community Development Director <br />FINANCE REVIEW: Not Applicable <br />TITLE: Update on Village Marketplace Proposed Development <br />Visioning for 1550 East 14th Street, the former Lucky s /Albertsons site, began approximately <br />five years ago when a 27- member Citizens Advisory Committee worked for two years on the <br />City's award - winning Transit Oriented Development Strategy which was adopted in 2007. <br />The San Leandro Redevelopment Agency purchased the vacant site in 2009 for temporary <br />replacement parking while the new downtown parking garage was under construction, and <br />then for development consistent with the TOD Strategy. <br />The City entered into an Exclusive Negotiating Rights Agreement with Innisfree Ventures II <br />( Innisfree) in September 2009 and has been working on plans for this site for the past two <br />years. <br />Design concepts in the TOD Strategy envisioned a neighborhood retail center with a <br />residential component on the upper floors. With the significant downturn in the real estate <br />market over the past several years, the construction of residential units above ground -level <br />retail businesses is not financially feasible at this time. The Village Marketplace retail <br />component remains generally consistent with what was proposed in the TOD Strategy. <br />Preliminary design concepts for the Village Marketplace envision a high - quality, <br />Mediterranean -style neighborhood retail center of roughly 28,000 square feet, anchored by a <br />specialty grocery store. Negotiations with tenants are still in progress, however, the <br />developer has received letters of intent from grocer Fresh & Easy Neighborhood Market, <br />Peet's Coffee & Tea, Chipotle and AT &T. One restaurant space and one additional retail <br />space are also planned. The design concepts include additional retail and restaurant spaces <br />with outdoor dining, a public plaza and gathering place, and public art. <br />City of San Leandro Page 1 Printed on 11/1/2011 <br />