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1 RiversideCA.gov
1 RiversideCA.gov
FORMER DOWNTOWN TERMINAL SITE - 3911
UNIVERSITY AVE & 3775 FAIRMOUNT BLVD UPDATE
Community & Economic Development Department
Economic Development, Placemaking and Branding/Marketing Committee October 20, 2022
RiversideCA.gov
2 LOCATION MAP
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3 1. Site Characteristics
a. 1.5 acres
b. Zoning - Downtown Specific Plan – Raincross District
2. April 2019 - Request for Proposals (RFP) issued
3. July 2019
a. One Development Proposal Received (Overland Pelican Riverside)(OPR) b. Student housing for Riverside Community College District (RCCD)
4. October 2019
a. Governor Newsom signs AB 1486
b. Rendered the RFP and the subsequent proposal null/void
BACKGROUND
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4 5. August 2019
a. Economic Development, Placemaking, and Branding/Marketing Committee (EDC) directed staff to send written notice of availability b. Notice sent to public agencies and affordable housing developers registered with HCD pursuant to AB1486
6. August 2019
a. Notice of Availability issued
b. All affordable housing developers included
7. October 2020
a. One development proposal received
b. OPR/RCCD - mixed-use student affordable housing project received
BACKGROUND - CONTINUED
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5 8. December 2020
a. EDC considered proposal
i. Directed staff to negotiate a Purchase and Sale Agreement ii. Present to the City Council for final consideration and approval b. OPR and RCCD terminate relationship
i. Both parties remain interested in the subject site
ii. Interest in developing property independent of each other
9. October 2021
a. Staff recommends new RFP be issued given RCCD is no longer part of development team
b. EDC directs staff to proceed with original proposal with OPR only c. Staff initiates negotiations
BACKGROUND CONT.
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6 10. June 2022
a. OPR affordable housing approach necessitated State interpretation b. Staff requests interpretation from State HCD Department:
i. Does AB 1486 apply to dormitory student housing?
ii. If so, should affordable income levels and rent limits be based per unit or per bed?
c. State HCD response:
i. Yes, project must comply with AB 1486
ii. Application of affordable income levels and rent limits shall be based per unit, not per bed
11. September 2022
i. Staff receives letter from OPR requesting ENA, additional time and ability to accommodate alternative development concepts ii. Request to return to Committee for update
BACKGROUND CONT.
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7 1. City and OPR in on-going negotiations
2. Student Housing Affordability:
a. OPR – student affordability based on “beds”
b. State Housing and Community Development Department (HCD) indicates that affordability based on “units”
3. OPR working through definitions of affordability as provided by HCD
4. OPR Requests:
a. One-year Exclusive Negotiating Agreement (ENA)
b. No more than two six-month extensions
c. Option to change project use and scope with City approval
DISCUSSION
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8 STRATEGIC PLAN ALIGNMENT
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9 That the Economic Development, Placemaking and
Branding/Marketing Committee:
1. Receive and file an update on the City-owned land located at 3911 University Avenue and 3775 Fairmount Boulevard, identified as Assessor Parcel Numbers 214- 252-016 & 213-261-027 (former downtown Terminal) for the development of a mixed-use student housing project; and
2. Recommend the City Council consider the request from Overland Pelican Riverside for a one-year Exclusive Negotiating Agreement and up to two six-month extensions.
RECOMMENDATIONS
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