Suisun City Releases Proposal for Old Town Development Deal
By Ian Thompson
SUISUN CITY - Suisun City's Redevelopment Agency wants to sell 13 downtown parcels to a local developer for $3.7 million to jump start its plans to economically revive Old Town.
The city released a proposed agreement Tuesday with Main Street West Partners. It will go before the City Council and the Redevelopment Agency in a public hearing April 4.
City Hall went into exclusive negotiations with Main Street West Partners almost a year ago to work out an agreement over how to develop city-owned parcels in the Old Town area.
"We are very pleased with the development agreement," interim Redevelopment Agency Director Al da Silva said. "It is a project that will complement what Suisun City is trying to do."
This has come at considerable cost to the Redevelopment Agency, which had spent $14.2 million during the years to acquire, clear and improve the 8.4 acres it is selling to Main Street West.
Main Street West plans to create a core anchor project on the vacant lots at Main and Solano streets that will be a mixed-use project with retail businesses on the ground floor and residences on the second floor.
The same is being proposed for smaller city-owned lots that include the former Marguarita Village building and a vacant parcel next to the present La Cabana.
Residential developments are proposed for larger vacant parcels on the west of Civic Center Boulevard. Just how many homes or townhouses would go there hasn't been determined.
The proposed agreement doesn't include the vacant Crystal school site, which the Redevelopment Agency received earlier this year.
That property is also expected to end up in Main Street West's hands in the near future for development as a residential project, da Silva said.
If the City Council agrees to the proposal, specific plans for the core project could be submitted by mid-April and work could start as early as this summer, da Silva added.
"Our objective is to create more attractions to bring people to our downtown, such as dining, retail," he said. "The residential development is to bring in residents with disposal income."
Da Silva expects an economic payoff for Suisun City once work starts.
"You will see a considerable amount of private investment," da Silva said. "Main Street West's coming gives further confidence to private investors."
Reach Ian Thompson at 427-6976 or at email@example.com.
Wednesday, March 22, 2006
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