City Council chooses Foster City Community Partners to develop 15 acresBack to News

City Council chooses Foster City Community Partners to develop 15 acres
Mon, Oct 17, 2011

By a 4-0 vote, the Foster City Council chose a development concept that includes neighborhood-style retail, senior-oriented condos and apartments for rent instead of a proposal for a continuing care retirement facility (CCRC).

The council made the decision on Oct. 17.

The city and FCCP will now enter into a 60-day exclusive negotiating period during which specific business terms will be developed. The business terms will be considered for approval in a public meeting tentatively scheduled for Jan. 3, 2012.

City Council members agreed that rather than leasing the 15-acre lot, selling is the best option.

“We’re not going to let this land go for cheap,” said Councilman Charlie Bronitksy. “We need to get the right price for this land.”

All four council members present at the meeting—Councilman Rick Wykoff is away on vacation—said that affordability of the units was a major factor in their decision between the development proposals by Sares-Regis Group of Northern California L.L.P. and Foster City Community Partners.

320 of the 446 units in Sares Regis’ proposal are independent living units costing a non-refundable entrance fee of $378,000 for the smallest units and $598,000 for the largest units. To be 90 percent refundable, the entrance fee increases to $632,000 for the smallest units and $853,000 for the largest units.

Under FCCP’s proposal, there would be 58 for-sale senior townhomes priced between $600,000 to $750,000, 100 for-sale senior condos for $375,000 to $530,000 and 42 for-sale condos above retail for $400,000 to $500,000.

The average Foster City resident may not be able to afford Sares Regis’ prices, said Councilwoman Pam Frisella.

“Flexibility is something that I looked at,” said Vice Mayor Art Kiesel on the different types of housing proposed by FCCP.

“We have to look ahead for a theme for that area, that neighborhood,” said Mayor Linda Koelling. “It’s going to be very important as it will be a destination area for many of the residents here and those vising our community.”

“I’m excited for what is going to get on that parcel of land,” said Koelling.

Members of the public had mixed opinions on the proposals.

“Now is the time to make a decision on this particular project,” said former Foster City Mayor and Councilman Marland Townsend.

He said he “unequivocally” supported FCCP because it would be “most affordable to most people in Foster City,” and because property taxes generated would benefit not only Foster City but the school districts.

One of six other speakers also said he supported FCCP.

Two residents, Jim and Claudette Main, spoke in support of a Sares Regis’ proposal.

“A CCRC is something that we don’t have [on the Peninsula],” said Claudette Main.

After the meeting, Ian Gillis of FCCP said the team was “very excited” to have been chosen.

Gillis is the President and a principal of Urban Community Partners, LLC, the main firm at FCCP.

FCCP members reached out to community members to address their concerns, said Charles McKeag of FCCP.

by Alexa Hemken