San Francisco Examiner/Peninsula/Brendan P. Bartholomew, 7/19/15. "Serramonte Center in Daly City set for major expansion."
| Shopped and stuffed, back home to Pacifica |
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| Serramonte, one stop Shopping Center |
The redevelopment will cost about $109 million and add at least 200,000 square feet of retail space to the 80-acre property, said Bill Brown, executive vice president of development at Equity One, the Florida-based company that acquired Serramonte in 2011.
Brown estimates the project will create about 900 new jobs, and provide temporary employment for several hundred construction workers. And because the mall’s existing businesses are currently generating annual sales of about $450 per square foot, he believes the added capacity will generate an additional $1 million per year in sales tax revenue. The facility’s increased valuation will probably yield an additional $2 million in property taxes, Brown said, but he was not sure what Daly City’s share would be." Read article.
Related article. The Registry/Bay Area Real Estate/Jon Peterson, 2/19/15. "Equity One Plans Serramonte Center Redevelopment as high as $100MM." North Miami Beach, Fla.-based Equity One is planning a redevelopment of the Serramonte Center retail project in Daly City that is likely to cost between $80 million and $100 million, according to the company’s 2014 fourth quarter results conference call.“We are now scheduled to be in front of the Daly City Council this summer for our project entitlements,” says David Lukes, chief executive officer for Equity One during the conference call. .... The land at Serramonte Center is roughly 80 acres in size. During the past three years, Equity One has brought in several new tenants to the property. This includes Dick’s Sporting Goods, Uniqlo, Zumiez and several restaurant tenants. The property currently totals 895,438 square feet, and some of its major tenants are Target, JCPenney and Macy’s. Equity One is a publicly traded real estate investment trust that owns major retail properties across the country. The company has ownership of 11 properties in California totaling 2.4 million square feet, according to its Web site. Serramonte Center is its largest property it owns in the state of California.
Reference - Daly City, CA Serramonte Shopping Center Expansion, Draft EIR, 3/15, pdf pages 356. Note photographs" sign from the related The Registry article above from Yelp. Serramonte street scape from the referenced Daly City Draft EIR, cover page 1.
Posted by Kathy Meeh
14 comments:
We could have had something in the quarry, revenue producing. But no...
Who are the actual owners of the Rockaway Quarry?
I think the NOBIES own it, cuz there's nothing there but dog shit.
"Who are the actual owners of the Rockaway Quarry?"
Nimby Corp LLC
Last I read, it is owned by some company in Minnesota or Michigan. The name on file included the word "Preserve". Just speculating but that made me think of pricey, very low-density homes. Maybe another Harmony@1? It's development, but of the kind nimbys see as the lesser of many potential evils. Something the CCC could embrace. Developer richer, a few realtors richer, but not a revenue producer for Pacifica. If something like this did occur, can we stick a fork in poor, sad Pacifica?
1218, from your good comment, up comes a Fix Pacifica reprint, Pacifica Tribune/Horrace Hinshaw,11/26/14. Full article: "For the fourth time in 10 years, the Rockaway Quarry will soon be adding a new resident. According to the City Manager Lorie Tinfow the property has been purchased by a buyer from Michigan. ... The new quarry's moniker is Preserve@Pacifica. Alledly, the company backing the purchase is a privately-owned real estate investment and management company headquartered in Grand Rapids, MI."
Well, Preserve@Pacifica didn't go anywhere. The information link I found was from Open Corporates, The Preserve@Pacifica, LLC (61 Commerce SW, Suite 501, Grand Rapids Michigan 49503. (Looks like this could be the same company.) And from that the Agent: James J. Rosloniec, Attorney (Real Estate, Business, Arbitration).
That's it. Maybe someone out there has additional or more definitive information.
Kathy, Would you happen to know the APN of the property?
354 good. From Measure E, 11/5/02, try Quarry site (APN #018-150-050 and 018-150-070).
Kathy, neither APNs show up in the county records.
503, okay, one more time from Google to you. Might try 018-150-110, 018-150-120, and 018-150-150. This one is from the No on Measure L group, 2006.
But, if these APNs change with the sale of the property, that probably won't work either. Anyone else know? The City may know, who's calling, not me.
Kathy
The assessors parcel number apn only changes when a parcel is subdivided.
Your apn stays with your property forever.
APN #s are not assigned by the city, but by the county. They would not change just because of a change of ownership. A change inthe property description such as a subdivision, a boundary or a lot line adjustment could trigger a change in the APN #s. Could the land used for the construction of the new WWTP possibly have resulted in a change in the APN #s City records should identify what the current APN #s are.
Thanks Big Banker 921, the quarry property is the first 5:32 pm links shown on the 2002 ballot measure, APN 018-150-050 and 018-150-070, pdf pages 54. The document linked here is an application to CA Coastal Commission, 1996.
Figures the No on L 2006 group would post an "alternative".
Kathy, the APNs in your 5:23 post are the correct ones for the quarry ( 018-150-110, 018-150-120, 018-150-150). The tax bills totaling almost $84,000 for 2014 have a mailing address go 660 Ada Dr SE, Ada, MI 49301. The aforementioned APNs comprise some 87,26 acres described as located "wes'ly of Carrillo hwy, adjacent to Rockaway Beach subdivision. An additional parcel with the APN of 018-150-170 comprises some 4.7 acres MOL and that tax bill is sent to the City of Pacifica. I surmise that parcel is for the WWTP.
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