Title
Public Hearing to Consider a Recommendation to the City Council to Rezone Vacant Land at 2350 Fifth Street from Mixed Use (MX) to Administrative Professional (AP)
Body
Re: Public Hearing to Consider a Recommendation to the City Council to Rezone Vacant Land at 2350 Fifth Street from Mixed Use (MX) to Administrative Professional (AP)
BACKGROUND
In February 2012, redevelopment agencies throughout the State were dissolved and successor agencies were established and charged with unwinding the affairs of their respective redevelopment agencies. The City's Community Improvement Commission (CIC) was dissolved and succeeded by the Successor Agency to the CIC (Successor Agency).
The Successor Agency prepared and submitted a Long Range Property Management Plan (LRPMP) to the State of Department of Finance (DOF). DOF approved the LRPMP which now governs the disposition of real property assets of the former CIC. The LRPMP requires that the property located at 2350 Fifth Street (Exhibit 1) be sold in the open market for the highest feasible price.
Loisos & Ubbelohde, an architectural firm located at Alameda Marina is interested in purchasing the property. George Loisos, the owner of Loisos & Ubbelohde, has indicated that he would like to build an approximately 7,000 square foot office building on the site for his firm (Exhibit 2). In addition to redeveloping a remnant parcel, this transaction retains a local business and allows for its expansion.
DISCUSSION
The subject property is an irregularly shaped, 35,719 square feet (.82) acres) remnant parcel across from the Bayport residential development and the Alameda Landing Shopping Center and immediately adjacent to the College of Alameda track at the intersection of 5th Street and Stargell Avenue. The property is vacant and has no on-site utilities.
The property was originally zoned Mixed Use (MX) as part of the Bayport - Alameda Landing Development zoning amendments in 2000. Although the MX zon...
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