Difference between revisions of "Stockyard (Old Lucky's Parking Lot) Redevelopment"
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For the 2,000 seat theater, Livermore spent over 9 million dollars on that effort [http://www.cityoflivermore.net/civicax/filebank/documents/8580]. The project was not completed. | For the 2,000 seat theater, Livermore spent over 9 million dollars on that effort [http://www.cityoflivermore.net/civicax/filebank/documents/8580]. The project was not completed. | ||
=== Cornerstone === | === Cornerstone === | ||
− | Several studies were recommended by Council on Aug 8 2016 for the new "Cornerstone" development proposal They will commence Q3 2016 at unknown costs. | + | DTZ developed the original RFP documents, and is the exclusive real estate broker for all the acreage. DTZ has been paid by the City at least $50,000 from the general fund and so far and will be paid several hundred thousand more if the properties are ever sold http://www.cityoflivermore.net/civicax/filebank/documents/11143 . Several studies were recommended by Council on Aug 8 2016 for the new "Cornerstone" development proposal They will commence Q3 2016 at unknown costs. |
Revision as of 22:26, 17 August 2016
The Livermore Village site, also known as the former “Lucky’s” site and Livermore Valley Center site, was once a stockyard accompanied by the surviving railroad depot. The redevelopment of the downtown sites owned by the City provide an opportunity to strengthen the success of the downtown core area.
Contents
History
There have been several redevelopment projects either constructed or proposed over the years.
Lucky's Era
After its value as a Stockyard was exhausted it became a strip mall anchored by Lucky's Supermarkets. Subsequent development of other shopping centers further away from the town center resulted in fewer customers and Lucky Stores abandoned the site. Most of the buildings were demolished and the parking lot remains.
2006 Livermore Village
This was a proposal by a developer [1]to build housing on the sites. An economic downturn ensued, and Livermore acquired the property.
2009 Performing Arts Effort
Another redevelopment plan was for a 2,000 seat performing arts center. It was scrapped when a change in State law regarding the availability of redevelopment funding made it economically infeasible.
Current Development Proposals (Cornerstone)
Community Group Alternative
Funded and managed by volunteers http://vibrantlivermore.com
Lennar Alternative
Proposed by Lennar Homes, the designated developer http://cityoflivermore.net/downtown
Financial Implications
Livermore Village
The Livermore Village costs for acquisition and demolition of Lucky's was $22 million in general fund expenditure [2].
LVPAC
For the 2,000 seat theater, Livermore spent over 9 million dollars on that effort [3]. The project was not completed.
Cornerstone
DTZ developed the original RFP documents, and is the exclusive real estate broker for all the acreage. DTZ has been paid by the City at least $50,000 from the general fund and so far and will be paid several hundred thousand more if the properties are ever sold http://www.cityoflivermore.net/civicax/filebank/documents/11143 . Several studies were recommended by Council on Aug 8 2016 for the new "Cornerstone" development proposal They will commence Q3 2016 at unknown costs.