City of Merced City Council
Attn: Honorable Mayor Mathew Serratto and City Council Members 678 West 18th Street
Merced, CA 95340
August 2, 2022
RE: UC Villages Annexation Pre-Application - Supplement
Dear Honorable Mayor Mathew Serratto and City Council Members:
The UC Villages Annexation Pre-Application is being considered by your body at the City Council of August 15, 2022. The UC Villages Annexation Project site is approximately 37.2-acres and is located on the southwest corner of Bellevue Road and Lake Road. The UC Villages Project consists of a mixed-use master planned development, including but not limited to affordable housing, multi-tenant retail opportunities, ground floor retail, a mid-market hotel to house visiting dignitaries and families of students, and student housing comprised of up to sixteen (16) apartment buildings to be built in phases based on market demand. A total of 922 units / 161 rooms will be constructed at full build-out of the UC Villages Project.
The housing will be complimented with a variety of amenities such as a 3,000 sq. ft. recreation center, co-work/study areas, areas for recreational activities such as corn hole, bocce ball and pickle ball courts, bike repair stations, and a recreation pool.
The UC Villages Project is primarily designed to complement the University of California Merced, which has seen as significant increase in student enrollment and capital investment. For instance, the University of California Regents adopted and funded the UC Merced 2020 Plan, which is an investment of $1.3 billion to fund enrollment increases and amplify student housing development and expansion of the UC Merced campus.
There are two (2) areas of the UC Villages Project that I would like to highlight:
Affordable Housing and Hiring Local.
Affordable Housing
I am in support of City Council’s Policy regarding Affordable Housing. The UC Villages Project intends to be consistent with and implement any existing or future Policy regarding Affordable Housing, including the Regional Housing Needs ATTACHMENT 4--Page 1
A
llocation (RHNA) Unit Production Plan, which was adopted by City Council on April 4, 2022 via Resolution 2022-15. This Plan provides that a minimum of 12.5% of the total number of proposed units within a development project shall be affordable and shall be spread across the Extremely Low-, Very Low-, Low-, and Moderate Income Levels. It is currently anticipated that this will be in the first phase of the project in order to take advantage of the associated density bonuses available via state law.
H
iring Local
I h
ave twenty-two (22) years of experience designing, building, and managing unique complex development projects. I cofounded Anchor Valley Partners (AVP), a fully integrated real estate investment and development company that currently owns approximately 1,000 student housing beds.
As with any project I’m involved in, my goal is to hire local contractors and workers to build and operate the project. This is beneficial because 1) local contractors are familiar with the local permitting process and inspection system as well as readily available when needed to maintain a building, and 2) is typically less cost due to not hiring contractors that need to commute to the job site. As stated above, the UC Villages Project is a multi-phased build-out of housing, retail, and a hotel. My preference is to use the same companies to build-out this multi-phased and multi- year project. I will do all that I can to secure local organizations to work with me on this great project.
We
look forward to the successful processing and discussion related to the UC Villages Project.
S
incerely,
S
id Lakireddy
UC Villages, LLC
[email protected]
(510) 900-5209
2040 Bancroft Way, Suite 301
Berkeley, CA 94704
cc. Ki
m Espinosa, Planning Manager, Planning & Permitting Division ATTACHMENT 4--Page 2