Depot Circle Developers Inch Closer to Final Designs

At the end of the month, the two leading applicants for the 2.3 acre space bordered by Jefferson, Middlefield and the Caltrain tracks will need to submit their designs. The city council subcommittee with then have the opportunity in early May to recommend its preferred developer to the rest of the council.

The project will drastically alter the current landscape of downtown Redwood City, a mini entrance for those exiting the Caltrain into town. It is the second biggest development in the last 15 years in Theatre Way, Mayor Alicia Aguirre noted.

The two proposals as of December 2011?

Developer Hunter Storm, Cupertino: 261,000 square feet of office space and 3,000 square feet of retail space on Block B only. The company has already purchased an adjacent, privately-owned parcel at the corner of Jefferson and Middlefield to accommodate the size of their proposed building and intends to purchase a second parcel at that corner in the future.

Lowe Enterprises, Los Angeles: a 150-room hotel on Winslow and a mixed-use development on Block 2 with 160 apartments, 232,000 square feet of office space, and 20,000 square feet of retail space

The council plans to approve a development agreement by fall 2012 and ground will be broken sometime spring of 2013.

Loss of Parking

The public parking spaces in Block 2, and potentially in the Winslow lot, will be bulldozed during construction. The 211 spaces in the Block 2 parking lot is lightly used during the workweek, but often filled on Friday and Saturday evenings. The 26-space Winslow lot is usually at capacity at all times.

During construction there are two parking options: better utilization of the garage on Middlefield Road that the city shares with the county or partnering with Caltrain for usage of its garage beneath the Sequoia Station shopping center. The Jefferson Avenue and Marshall Street garages are also viable options. Use of the Jefferson Avenue space beneath the Century Theatres would require amending the Parking Facilities Agreement between the city and the theatre owners.

Because both proposals involve office space, the plan would include some parking that will be accessible to the public at night and weekends.

While the city acknowledges the necessity of having enough parking spaces, it also wants to reduce the amount of cars parking on the lot. This will reduce construction costs, increase the city’s land value and bring more foot traffic to the downtown. 

Relocating the Culvert

An underground culvert, or concrete water channel, of Redwood Creek cuts diagonally across the northern third of the site, which limits the ability to construct underground parking.

The city council approved moving the culvert in December 2011, using $2 million in funds from the Capital Improvement Program (CIP).

City staff expects to have a design completed by the end of April, and construction completion by spring 2013 in time for the developer’s construction crews to begin on the project.

Retaining Ownership?

The city could also lease the land to the developer rather than sell it, to generate a steady source of revenue. However, the city would lose out on a large initial payment that could be used for other projects. The city would also have to act as a constant landlord, enforcing the agreement and ensuring that the developer is a good tenant.

Developers are also reluctant to enter a lease because they prefer to have the land value increase over time. Both developers will have to respond to the option of a lease.

For more news about Redwood City and surrounding areas, including unincorporated San Mateo County, follow us on Twitter and "like" us on Facebook.

Get Patched in daily by signing up for our newsletter.