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Oversight Board Okays Village Marketplace

A joint agency body has ratified Monday night's City Council decision approving the downtown San Leandro project. One more hurdle lies ahead.

 

The Village Marketplace won another approval Wednesday in a three-year planning process that could transform a downtown parking lot into a retail plaza.

On Wednesday, the board that reviews projects started by redevelopment agencies voted 6-0 to ratify a deal that the San Leandro City Council had approved Monday.

to sell developer David Irmer the property at 1550 E. 14th Street for $4 million less than the city paid for it in 2009.

The project's centerpiece will be a . It will include a Peet's and a Chipotle, all built around a central plaza and featuring a Mediterrenean design.

Supporters say the project will create 500 construction jobs and 113 permanent jobs, generate sales and property taxes, and give the downtown a boost.

“Village Marketplace will help revitalize our downtown by converting a large parking lot into an attractive focal point for shopping, dining or simply having a cup of coffee," said Mayor Stephen Cassidy.

Opponents include former Mayor Tony Santos, who has called it an "awful deal" and said he doubts the city will recoup its investment in the project.

The development faces one more level of review. The state Department of Finance has three days to question the transaction and it must complete a review of the project within ten business days, the city said.

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Marga Lacabe May 23, 2012 at 08:44 PM
Shameful. I think Morgan Mack-Rose is the worst offender, she has a fiduciary responsibility to the schools, the less money the developer pays, the less money the schools get. But hey, it's just our kids.
Ron Crow May 23, 2012 at 09:02 PM
Just lovely, leave it up to San Leandro to throw $4,000,000.00 down the toilet! Let's see if this will get you re-elected!
Marga Lacabe May 23, 2012 at 09:05 PM
The only way anyone won't get re-elected is if someone runs a strong campaign against them. So far no incumbent running in the November election seems to have a challenger.
Ron Crow May 24, 2012 at 05:54 PM
San Leandro does love it's incumbents! It will take 20 years to recoup the money lost on the land sale, that is if all goes as projected. I would rather keep the parking lot until we can get a decent price for the land!
Paul Vargas May 25, 2012 at 05:28 AM
So sad that a dupe like Jim Prola is running unopposed. He's like the Mario Polvorosa of the 21st Century.

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