Title
Receive a report on the status, funding, and schedule of the Historic/Arts District and Town Center portions of Phase 3 of the East Garrison development, and provide direction to staff.
Report
RECOMMENDATION:
It is recommended that the Fort Ord Committee receive a report on the status, funding, and schedule of the Historic/Arts District and Town Center portions of Phase 3 of the East Garrison development, and provide direction to staff.
SUMMARY:
This report is to provide an overview of the required scope, funding, and timing for the Arts/Historic District and Town Center portions of the East Garrison project as outlined in the Specific Plan, Conditions of Approval, and the Disposition & Development Agreement.
Phase 3 of the East Garrison development includes a number of discrete compontents:
* Single-family residential units - 194 market rate
* Condominium units - 151 market rate
* Live-work units - 49 market rate and Workforce 2
* Affordable townhome units - 33 moderate income
* Rental apartments (ArtSpace) - 66 low and very low income
* Town Center commercial district
o 34,000 s.f. neighborhood commercial development
o 40 loft-type residential units
o Library/sheriff field office
* Arts/Historic District
o 25 preserved buildings from the Second World War
o Reused and converted to a maximum of 100,000 s.f. of affordable studio space, and two public neighborhood parks
Work on this phase has not yet begun. Based on the developer's current construction schedule, the Phase 3 tract improvements are on pace to be completed in 2018, at which time construction of the Historic/Arts District and Town Center can get underway. A number of planning, financing, and property actions are needed to be ready to construct in 2018. These steps are described below with estimated timelines.
DISCUSSION:
Arts/Historic District
Approximately 9 acres in Phase 3 is designated for development as a region-serving multi-cultural arts destination. T...
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