City staff and representatives from nonprofit housing developer BRIDGE Housing Corporation will present an update on the proposed Cornerstone building, which is part of the San Leandro Crossing development project at the San Leandro BART station, Monday, May 6, at 7 p.m. in City Council chambers. The Cornerstone building will consist of 200 affordable housing rental units. The building complies with existing planning entitlements from 2009, the Zoning Code, the General Plan, and the City’s Downtown Transit-Oriented Development (TOD) Strategy. BRIDGE is preparing to apply for the final round of 2013 State/federal low-income housing tax credits in early July. In Spring 2012, the City, BRIDGE, Westlake Development Partnership, and OSIsoft presented to the City Council a revised San Leandro Crossings master development that included: 1) changing the proposed 200 unit Cornerstone residential rental development from market to affordable housing and having BRIDGE replace Westlake as developer, 2) having BRIDGE provide the replacement BART parking, and 3) creating a multi-phased privately funded tech campus for OSIsoft, with Westlake as developer, on the site west of the BART Station previously planned for affordable housing. The May 6 presentation will cover the Cornerstone and replacement BART parking. The Westlake tech campus will begin the public approval process this summer. Revised Cornerstone features that will be presented on May 6 include: development of the 200 units in two phases – 115 units of affordable housing followed by 85 units of senior affordable housing; provision for BART indoor replacement parking on-site through the addition of a second level of underground parking; reduced BART replacement parking; lowered height for the building façade facing Carpentier Street; and inclusion of a ground-floor community childcare center. Maintaining BART parking at the Cornerstone site keeps parking close to the BART station and Downtown San Leandro. Replacement parking will be provided at a 75 percent level consistent with the Downtown TOD Strategy. Additional parking spaces will be available on San Leandro Boulevard as a result of the streetscape improvements currently underway. The updated Cornerstone affordable rental housing project represents the first residential development to occur under the Downtown TOD Strategy. Cornerstone will enhance downtown with its attractive architectural design, increase public transit use and the number of people patronizing downtown businesses. Cornerstone has leveraged over $30 million in public funding ($9.1 million loan from the former Redevelopment Agency and over $22 million in Proposition 1C grant funding from the State,) and will help the city meet its state and federal affordable and workforce housing goals. For more information call the City Manager’s Office at (510) 577-3351.
San Leandro Crossings Development Update
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