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.