HomeMy WebLinkAboutMINUTES - 10031995 - C53 - Contra
TO: REDEVELOPMENT AGENCY Costa
FROM: Phil Batchelor r Uik' County
Executive Director
DATE: October 3, 1995
SUBJECT: Area 4 Residential Site - Pleasant Hill BART Station
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
DESIGNATE BRIDGE Housing Corporation/The Martin Group/Holliday Development as the
developer for Area 4 - Pleasant Hill BART Station Area; and AUTHORIZE the Deputy Director
- Redevelopment to execute an Exclusive Negotiating Rights Agreement with the developer
which will lead to a Disposition & Development Agreement.
FISCAL IMPACT
None. No General Fund revenues are involved.
BACKGROUND/REASONS FOR RECOMMENDATIONS
On February 14, 1995, the Agency authorized circulation of a Request for Developer
Qualifications for Area 4 at the Pleasant Hill BART Station. Area 4 is a Red velopment
CONTINUED ON ATTACHMENT: XX YES SIGNATURE:
6CA,�
RECOMMENDATION OF EXECUTIVE DIRECTOR COMMENd TION OF AGE CY
COMMITTEE APPROVE OTHER
SIGNATURE(S):
ACTION OF AGENCY ON October 3 , 1.995 APPROVED AS RECOMMENDED x OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
x UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
Contact: Jim Kennedy
646-4076 ATTESTED October 3 , 1995
cc: County Administrator PHIL BATCHELOR
County Counsel AGENCY SECRETARY
Community Development
Redevelopment Agency
via Redevelopment Agency B LAA. , DEPUTY
SKMG
Goldfarb & Lipman
BRIDGE Housing Corporation
The Martin Group
Holiday Development
Lincoln Property
Contra Costa Centre Association
Walden Association
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Agency-owned, very high density residential site. The Agency was pleased to have eight
high quality firms submit their qualifications. Using a Review Committee that consisted of
representatives of the Contra Costa Centre Association, the Walden District Improvement
Association, a representative from Supervisor DeSaulnier's office, Community
Development Department staff, Redevelopment Agency staff, and the Agency's real estate
consultant, the Agency reviewed the qualifications, and ultimately requested proposals
from four of the eight developer parties. The developer parties from whom development
proposals were requested included BRIDGE Housing Corporation/The Martin
Group/Holliday Development, Lincoln Property Company, Trammell Crow, and Sares
Regis/Eden Housing. Based on a review of the proposals, the Review Committee
narrowed the field to two finalists: BRIDGE Housing Corporation/The Martin
Group/Holiday Development, and Lincoln Property Company.
The Review Committee then engaged in a site review of prior housing developments of the
respective developers. Principals involved with the firms interviewed by the Committee as
part of these site visits. The Review Committee is pleased to recommend that the
Redevelopment Agency enter into an Exclusive Negotiating Rights Agreement with
BRIDGE Housing Corporation/The Martin Group/Holliday Development.
The Review Committee was given a difficult charge. The reality was that any of the eight
original submittors of qualifications had the capacity to proceed. with the project.
Narrowing of the field was difficult and very competitive. The final two proposals are
generally described below, and represent significantly different product types. Based on
criteria that included compliance with minimum density elements of the Specific Plan, the
extent and depth of affordability, the financial terms associated with land purchase, the risk
associated with the plan of finance, and conformance to the Urban Design goals of the
Pleasant Hill BART Specific Plan, the Committee recommends BRIDGE Housing
Corporation/The Martin Group/Holliday Developer.
A brief description of each of the two development proposals under final consideration
follows: r
BRIDGE Housing Corporation/The Martin Group/Holliday Development
Total number of units: 140
Number of rental units: 86
Number of affordable rental units: 86 (tax credit financing)
Number of for sale units: 54
Lincoln Development Compare
Total number of units: 192
Number of rental units: 192
Number of affordable rental units: 29
Number of for sale units: 0