CDC- Item 2C - Development Projects UpdateROSEMEAD COMMUNITY
DEVELOPMENT COMMISSION
STAFF REPORT
TO: THE HONORABLE CHAIRMAN AND COMMISSION MEMBERS
FROM: ANDREW C. LAZZARETTO, EXECUTIVE DIRECTOR Nbaw
DATE: FEBRUARY 27, 2007
SUBJECT: DEVELOPMENT PROJECTS UPDATE
SUMMARY
Provided below is a summary of the major development projects within Redevelopment
Project Area No. 1 and Project Area No. 2 in the City of Rosemead as requested by the
Rosemead Community Development Commission on February 13, 2007.
Staff Recommendation
Staff recommends that the Community Development Commission receive and file this
report.
DISCUSSION
Over the last several months, the Rosemead Community Development Commission has
authorized three (3) property appraisals and entered into two (2) Exclusive Negotiating
Agreements (ENA) with local developers to assist in the development of key sites in
Redevelopment Project Area No. 1 and Project Area No. 2.
Property Appraisals
The three (3) properties authorized by the Commission to be appraised are listed below.
• 9416 Valley Boulevard - An appraisal of this property was completed in July
2006. The property is currently in escrow with the adjacent parcel owner to the
west for a 34-38 unit mixed used project.
• 9020 Steele Street - An appraisal of this property was completed in September
2006. It is currently being considered by several developers to be included as
part of the proposed development on the Bank of the West parcel to the north.
• 9056 Garvey Avenue - This property is currently being appraised. There is an
opportunity to combine the properties at 9056 and 9048 Garvey Avenue for a 5
acre mixed use development. The final appraisal is due to the City in early
March 2007 and will be presented to the Commission soon thereafter.
APPROVED FOR CITY COUNCIL AGENDA: Oe-G ~
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Community Development Commission Meeting
February 27, 2007
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The following table provides the background information for each appraised property.
Pro a
Pro a
O
Existina Use(s)
Date
A
i
d
Status
Address
wner
ppra
se
9416 Valley
Felipe Orozco
Liquor store,
July 2006
Currently in escrow with
Boulevard
flower shop,
adjacent property owner for
substandard
a 34-38 unit mixed used
residential units
project.
9020 Steele
Alan Kao
Chinese Yellow
September
Several developers have
Street
Pages building
2006
shown interest in developing
this property.
9056 Garvey
Robert & Carol
Furniture
Due early
The appraisal is due to the
Avenue
Carson
distribution and
March 2007
City in early March.
manufacturing
The Commission also authorized staff to have an appraisal prepared for the property at
the southwest corner of Valley and Temple City Boulevards. While the appraisal was
being prepared, staff was informed by the property owner that they would be submitting
a development proposal for this site. Since the property owner was prepared to
improve and develop the property privately, staff requested that the appraiser stop all
work on this property. Since then, this property has sold and staff anticipates receiving
a revised proposal from the new property owner.
Exclusive Negotiating Agreements
Over the last several months, the Commission has entered into two (2) Exclusive
Negotiating Agreements with local developers for the development of two key sites in
the City of Rosemead.
Manarino Realty - The Commission approved an ENA with Manarino Realty on
November 28, 2006. Manarino is proposing to develop a commercial/retail
project at the northeast corner of Temple City and Valley Boulevards. This
project is proposed to include a non-ethnic grocery use like a Trader Joe's,
Tesco, Bristol Farms, etc., and other neighborhood serving commercial and
retail. Staff has been working closely with developer to determine the feasibility
of the project and will continue to update the Commission as new information
becomes available.
YK America - The Commission approved an ENA with YK America on December
19, 2006, for the development of the southwest corner of Rosemead Boulevard
and Glendon Way. YK is proposing to develop the site with a major home
improvement type user. Staff will continue to work closely with YK to determine
the feasibility of the project and will continue to update the Commission as new
information becomes available.
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Community Development Commission Meeting
February 27, 2007
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Private Proiects
There are several privately funded projects located in the City's redevelopment project
areas which are currently in the development process. Most are in the conceptual
design phase and have yet to submit a formal entitlement application. The following
project is fully entitled and the design has been approved by the Commission:
Grae Ventures: On behalf of the owner of the Bank of the West property located at the
southeast corner of Rosemead and Valley Boulevards, Grae Ventures is proposing to
demolish the existing bank and build two new buildings including approximately 12,000
square feet of new retail and restaurant uses. The Planning Commission has approved
their proposed design (and tentative parcel map) which includes outdoor dining, a water
feature and other pedestrian friendly amenities. Grae is working closely with staff to
ensure commitments from desired retail and restaurant tenants.
CONCLUSION
The development activity in Rosemead continues to grow. Within the coming months,
the Commission will be presented with the General Plan update including mixed use
design standards that will enable staff to process projects more efficiently. The overall
permitting process in Rosemead is also being adjusted to provide businesses and
homeowners with a more consistent and streamlined process.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
LEGAL REVIEW
This staff report and attachments have been reviewed and approved by the City
Attorney.
Submitted by:
A`~"
J e Duff
Community Development Director
Prepar d by:
V B ~ Saeki
Redevelopment Administrator/RCDC Deputy Executive Director