Stockyard (Old Lucky's Parking Lot) Redevelopment

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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. These sites are owned by the City and various ways are being considered to utilize them to strengthen the success of the downtown core area.

There are several adjoining parcels, the larger of which consists of a 5.5 acre contiguous land area bordered roughly by First Street, L Street, Railroad Avenue, and Livermore Avenue. Currently it is a 550 space parking lot plus a few buildings including the historic Livermore Railroad Depot. The smaller parking lot is adjacent to the Bankhead Theater at the corner of Livermore and Railroad Avenue. Official documents often refer to the larger lot as "Livermore Village Site"[1], which is a carryover term from the failed attempt to create a housing development there. As residents express an overwhelming distaste for the idea of significant housing being built there, the continued use of the term "village" is seen by some as loaded. Similarly, documents refer to the Bankhead parking lot as the "Hotel Site"[2] where there is wide opposition to the idea of locating a hotel.

History

There have been various 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 [3]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)

DTZ developed the original RFP documents, and is the exclusive real estate broker for all the acreage.

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 expenditures. [4].

LVPAC

For the 2,000 seat theater, Livermore spent over 9 million dollars on that effort [5]. The project was not completed.

Cornerstone

DTZ has been paid by the City at least $80,000 from the general fund and so far and will be paid another $300,000 if the properties are sold, to Lennar or any other suitor. [6]. Also Kier & Wright has been paid $60,000 to assist DTZ/Colliers. Several studies were recommended by Council on Aug 8 2016 for Lennar's new "Cornerstone" development proposal. They will commence Q3 2016 at unknown costs. The City also plans to spend 17 million of general fund money on a parking garage [7]