As promised by the developer, without the Quarry residential housing approved by the voters, something commercial will be built, plus a no public access Mitigation Bank.
|No trails here, and no dog walking|
.... “The residential count compared to the retail count shows significantly less impact to Highway 1. This is a big benefit to traffic,” he said. “We would work with the Rockaway merchants and do something that would make us congruent with that community, an integrated walkable area. I do not believe the length of time waiting in traffic will be significantly longer. The impact will be minimal.” He expects a full traffic study to be completed next month.
.... When asked about what he would build if the initiative did not pass, he said, “We own it outright. We are not going away. Look at the existing zoning. It would be like a shopping center. That’s not something I want to do, but I need to look at every option. To create a mitigation bank, we would take a portion of it and create beautiful wetlands, but public access would be taken away. That would be the downside. We overestimated the amount of wetlands that are there. The little trail is protected but anything else is fair game for a mitigation bank.” Read article.
|Mitigation Bank, no public access|
Reference. The Pacifica Quarry, Restore and Connect/The Team. "PROPERTY OWNERS Preserve@Pacifica, LLC purchased the quarry property in 2014 with a commitment to undertake a sensitive balance of restoration and site-appropriate development. Eenhoorn, LLC, a property management company based in Grand Rapids, Michigan, represents the quarry property owners. Founded in 1988 by the father-son team of Carl and Paul Heule, Eenhoorn subscribes to a balanced, long-term investment strategy for managing a select international portfolio of residential and commercial properties. They are committed to being good stewards of the earth while providing high quality, safe environments for people to work, play and live in, from affordable housing to Class A high-rise apartments." ...
Reference. Mitigation Banking, Investopedia/Jikram Jhawar, 3/16/15, "Understanding the basics of Mitigation Banking." .... "A mitigation bank is a site developed for such a purpose. The person or entity undertaking such restoration work is referred to as a mitigation banker. Just as a commercial bank has cash as an asset that it can loan to customers, a mitigation bank has mitigation credits as its assets that it can eventually sell to those who are trying to offset mitigation debits. Generally these purchasers of mitigation credits are individuals or entities undertaking commercial projects."
Note photographs. Man in wetlands vegetation from Greens...Wetlands Mitigation Bank. Bird image from image from HCFCD - Greens...Wetlands Mitigation Bank, and it's automated.
Posted by Kathy Meeh