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1 RiversideCA.gov1
RiversideCA.gov
Community & Economic DevelopmentEconomic Development, Placemaking and Branding/Marketing CommitteeJanuary 20, 2022DEVELOPMENT PROPOSAL FOR 3.9 ACRES OF SUCCESSOR AGENCY-OWNED VACANT LAND LOCATED ON THE SOUTH SIDE OF RAILROAD AVENUE BETWEEN MADISON AND JEFFERSON STREETS RiversideCA.gov2
AERIAL SITE MAP AND PROPERTY DETAILSPropertyAPNS 230-233-013, 230-245-013 and 015 and 230-235-010Zoning:R-1-7000General Plan: Medium Density Residential (MDR)Lot Size: 3.9 acresAppraised Value: To be Determined (Appraisal)
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2 RiversideCA.gov3
•January 9, 2007: Former Redevelopment Agency (RDA) acquired theProperty from Riverside County Transportation Commission (RCTC) for futuredevelopment opportunities•December 22, 2015: City Council approved the disposition of the subjectproperty to Riverside Harley -Davidson for the development of a warehouse•May 26, 2021: Staff sent a written notice of availability to the required publicagencies and to all affordable housing developers who registered with theState’s Housing and Community Development (HCD)•July 15, 2021: Escrow was canceled with Riverside Harley-Davidson due totheir failure to perform the obligations in the purchase and sale agreement•July 26, 2021: staff received one development proposal from GilbaneDevelopment Company to construct a 120-unit, 100% affordable multi-family and senior housing residential project on the subject propertyBACKGROUND RiversideCA.gov4
•Gilbane Development Company is proposing a 120-unit, 100% affordablemulti-family and senior residential project:* Purchase price to be determined by an independent third-party appraisalPROPOSAL SUMMARYMulti-Family Residential Senior ResidentialUnits:75 45Bedrooms:1 Bedroom: 23 Units2 Bedrooms: 11 Units3 Bedrooms: 11 Units1 Bedroom: 67 Units2 Bedrooms: 8 UnitsParking: 76 stalls 60 stalls 1/6/2022
3 RiversideCA.gov5
PRELIMINARY SITE PLANUNIVERSITY AVE.OTTAWA AVE.
Railroad Avenue
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PRELIMINARY ELEVATIONUNIVERSITY AVE.OTTAWA AVE.
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4 RiversideCA.gov7
STRATEGIC PLAN ALIGNMENTEnvision Riverside 2025 Strategic Plan PrioritiesCross-Cutting Threads#3 Economic OpportunityCommunity TrustEquityFiscal ResponsibilityInnovationSustainability & Resiliency RiversideCA.gov8
That the Economic Development, Placemaking and Branding/MarketingCommittee recommends that City Council:1. Review and consider a development proposal from Gilbane DevelopmentCompany, for 3.9 acres of Successor Agency-owned vacant land, on thesouth side of Railroad Ave, between Madison Street and Jefferson Street,bearing assessor parcel numbers 230-233-013, 230-245-013 and 015 and 230-235-010 for development of an affordable multi-family and senior residentialproject; and2. Direct staff to negotiate a Purchase, Sale, and Development Agreement withGilbane Development Company, for the development of a 120-unit, 100%affordable multi-family and senior housing residential project to be presentedto the Successor Agency Board and Countywide Oversight Board for finalconsideration and approval.RECOMMENDATIONS