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Another delay for TOD at Millbrae BART/Caltrain; housing scrapped

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  • 1/23 Peninsula Examiner
    Published Wednesday, January 23, 2008, by the Peninsula Examiner A fourth delay given for developer By Mike Rosenberg mrosenberg@examiner.com MILLBRAE -- Maybe
    Message 1 of 1 , Jan 23, 2008
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      Published Wednesday, January 23, 2008, by the Peninsula Examiner

      A fourth delay given for developer

      By Mike Rosenberg

      MILLBRAE -- Maybe the fourth time is the charm.

      The Millbrae City Council on Tuesday again extended the deadline
      for a developer to acquire land for a $310 million project near the
      city's BART/Caltrain station after the company said changing plans
      required more time.

      "The project changed completely in the last 90 days," said Chuck
      Fancher of the Irvine-based Fancher Partners. "We're inches away
      from finishing this. I am certain we will get it done."

      The 5-1/2-acre development, which would include new shops and a
      movie theater next to the transit hub, has been stalled because the
      developer has been unable to acquire the two-thirds of the businesses
      it needs to buy out in order to begin building on the 8 acres of

      But the plan itself was recently changed to reflect investment
      needs. A recent version of the plan called for 231 condominiums
      and a 131-room hotel. The housing market has bottomed out while
      the office market has surged, so the city recently scrapped the
      residential aspects in favor of more retail and office space,
      Community Development Director Ralph Petty said.

      Fancher Partners entered an agreement with the city in February 2006
      but has been unable to satisfy the city's land requirements.

      The city had already given the group three 90-day deadline extensions
      to acquire enough land, each time delaying construction three months
      longer than the city had envisioned.

      Fancher representatives would not discuss details of the negotiations
      Tuesday but said in October that they had 40 percent of the land

      Millbrae officials see the more than 10-year-old plan called Site
      One as essential to creating new jobs, shopping destinations, and
      entertainment for residents and visitors.

      The affected redevelopment area lies between El Camino Real to the
      west, an extended California Drive to the east, Millbrae Avenue to
      the south and an extended Victoria Avenue to the north. It includes
      restaurants such as Zack's Bar & Grill and other larger businesses
      such as the Millbrae Lumber Co. and the Millbrae Serra Convalescent

      [BATN: See also:

      Millbrae BART/Caltrain TOD plans appear stalled

      SamTrans to keep HSR on existing two Caltrain tracks in Millbrae

      Millbrae fears adding HSR tracks to train station will derail TOD

      Millbrae claims more tracks for HSR, Caltrain threaten $250m TOD

      Stalled Millbrae BART TOD speeds new downtown parking garage

      Millbrae BART TOD stalled, blocks new downtown parking garage

      Land acquisition slows TOD plans at Millbrae BART/Caltrain

      Millbrae council moves TOD redevelopment plan ahead

      Millbrae eyes TOD arts & convention center near BART

      Mixed-use TOD going up near Millbrae BART/Caltrain

      Millbrae TOD project near BART cancelled
      http://groups.yahoo.com/group/BATN/message/13015 ]
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