An underground parking garage close to the Sequoia Station in Redwood City has been declared exempt surplus property by SamTrans, making it possible for for first invest in conversations with Lowe Company as the business works to redevelop the existing searching heart area.
Lowe Enterprise is performing to redevelop the bigger current Sequoia Station browsing center in Redwood City with the city and approached SamTrans about buying the underground parking garage, a SamTrans personnel report said. Lowe Company is a private actual estate business with offices all over the United States. SamTrans Authorized Counsel Joan Cassman stated it approached SamTrans about shopping for the district’s curiosity because it are unable to pursue redevelopment right up until it can purchase all of the current house pursuits owned by many events, which includes SamTrans.
“To make clear for the community, we are much afield from being at a place the place we have any substantive agreements or conversations with the builders. We are laying the groundwork to start discussions,” Cassman said.
The proposal for the Sequoia Station web site is for a transit-oriented, mixed-use enhancement on 6 blocks of about 12 acres with 631 multifamily household units such as 254 reasonably priced units. It also features 1,230,000 square feet of office, 166,600 square ft of retail, 10,000 square feet of kid care facility, and 86,000 sq. feet of general public open up room, normally found concerning El Camino Authentic, Jefferson and James avenues, and the Caltrain tracks within the Downtown Exact Approach area. The venture is aspect of the Transit District, which will be analyzed via an environmental impact report.
If redeveloped, the underground garage would likely be demolished. SamTrans owns the underground parking garage next to the Caltrain station but does not possess any other home in the searching centre. SamTrans spokesperson Dan Lieberman stated by e-mail the transit company is doing the job with Redwood City, Caltrain and the developer to ensure ample parking will be out there if the garage is demolished.
At its Sept. 1 board meeting, SamTrans unanimously voted to declare the underground parking garage surplus residence and approved personnel to proceed to negotiate the disposition of the house. The SamTrans board also voted that the designation does not have the possible for a substantial impact on the environment and is exempt from further California Environmental Quality Act review. The California Surplus Lands Act restricts improvement and property use. It involves nearby agencies like SamTrans to declare land as surplus or exempt surplus in advance of engaging in negotiations. Cassman highlighted the subterranean character of the one particular-tale parking garage as a explanation for exemption. The garage is close to 111,000 square toes with confined height clearances and some ramps to floor streets.
“We consider the physical attributes of the residence curiosity we own in this underground house parking garage tumble squarely inside an exception under the surplus house act,” Cassman said.
She also claimed it was unlikely that the residence could be turned into housing unless of course portion of a bigger progress.
“The residence is not capable of staying made for housing on an unbiased basis. The only hope is that we can market this home to the developer and with that be component of a more substantial improvement that Lowe Company is formulating that will, in fact, include things like housing at a later level,” Cassman claimed.
Caltrans in 1991 gave the land deed for the home to SamTrans to use it as a parking garage for Peninsula users and features the right to have the home revert if not utilised for that use. The report stated SamTrans and the developer would have to negotiate to reconfigure the property to both be a new subdivision process or be certain large-scale variations to the house use.
The Sept. 1 meeting also provided a closed session item about the Sequoia Station Procuring Middle home. The product summary pointed out negotiations included SamTrans officials and the negotiating celebration, Lowe Enterprises. The item less than negotiation was cost and terms of payment.