Singh-Allen says 'you can smell' the vibrancy of Elk Grove's second attempt to bring the Project Elevate shopping center to fruition
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| CalCenter Acquisitions LLC representative Scott Bohrer promised Elk Grove's Project Elevate will be a vibrant shopping center. | |
Mayor say Project Elevate will be Elk Grove's 'Crown Jewell'
Last night, as the Elk Grove City Council approved another plan for the long-awaited Project Elevate, Mayor Bobbie Singh-Allen declared, "You can smell" the vibrancy of the new shopping center. The project has been in the works for over eight years.
After hearing a presentation from the city's economic development director and the newest developer for Elk Grove's Project Elevate facility, the city council voted unanimously to contract with El Segundo, Calif.-based CenterCal Acquisitions, LLC. The current plans call for a shopping center, restaurants, market rate, and affordable apartments on 20 acres of taxpayer-owner property directly adjacent to the District56 complex.
CenterCal was chosen after internationally renowned Houston-based Hines Interest withdrew from a development negotiation agreement with the city. A city council subcommittee of Darren Suen and Sergio Robles was part of the team that helped identify CenterCal.
Elk Grove economic development director Darrell Doan noted the failed negotiations with Hines during his presentation.
"It didn't work out with Hines," Doan admitted. "Despite everybody's best efforts, including theirs', staff's."
Doan said Hines could not develop an economically feasible plan based on the city's wish list for the development. When Hines walked away, CenterCal rebid the project.
Speaking on behalf of the CenterCal was Scott Bohrer, vice president of development. Highlighting CenterCal's other shopping centers, Bohrer said they are all vibrant.
"The recurring theme you will notice in these [artistic rendering] images is vibrancy," he said. "It's the community coming together, it's food, it's beverage, it's retail."
However, his artistic renderings for Project Elevate were nondescript. One aerial rendering, seen below, shows the facility surrounded by a parking lot.
While retail shopping will be the facility's primary focus, the plan includes about 240 apartment units and over 100 hotel rooms. Only 15 percent of the apartments will be affordable.
Sounds like the city got sloppy seconds with the outfit!
ReplyDeleteOver the years I have seen a lot of nondescript suburbs like Elk Grove attempt to create a downtown or central core from scratch and waste a lot of taxpayers money. I'm not sure if a market feasibility study has recently been done for the Project Elevate plan, but being able to 'smell vibrancy' is not my idea of sound real estate finance.
ReplyDeleteOne thing is for sure--the gap between an economically feasible project versus the City's dream is going to be the amount taxpayers will be expected to subsidize this project, or else the plan has to be watered down. Before walking away, Hines Development must have determined the economic feasibility gap and realized they were not going to receive the necessary subsidy to warrant proceeding. Pappas on the other hand, was disinterested in Project Elevate, because let's face it, he's pretty much cornered the retail market in Elk Grove of economically feasible projects.
I'm beginning to suspect that a name change might be in order. Should Project Elevate be renamed the Field of Dreams?
Perhaps the Mayor should appoint a 'Vibrancy team' to work with the Developer on Project Elevate and all upcoming projects...one other being considered is the 'Historical Gaslamp District'.
ReplyDeleteActually now that I think of it the City is giving out $2.00 Food coupons to Bike riders that attend the Food Truck Mania at the Old Town Plaza tonight, May 1st. A Vibrancy team could have been working this event......