Comments on: Grafton Station, Promenade, and Target Store Updates

By: John M. Zukoski

John M. Zukoski — Thu, 01 Jan 1970 00:00:00 +0000

Hi Anonymous – I haven’t seen any indication of a delay in Phase III of Grafton Station. At this point, the project design is being worked through by the Planning Department and Planning Commission – so progress is being made.

It could be possible that the developer would split Phase III into two phases given that they will be building two structures.

I’m sure that Charter will issue a press release once a large retailer signs on (just as they did when Club Sport signed up for the Promenade). The property is being actively marketed by Colliers so it is just a matter of time until Grafton Station catches a big fish. Here’s the link to Colliers’ site:

http://www.colliersparrish.com/attachment.aspx?articleid=48895&isprivate=0

Thx, John Z.

By: Anonymous

Anonymous — Thu, 01 Jan 1970 00:00:00 +0000

Any indication the development of Phase III of Grafton Station could be delayed since some retailers have either backed out or placed their plans on hold? Or could the developer split Phase III into two to include Phase IV when other retailers sign on. Do you have an ETA on when Charter may proceed with Phase III in any form? Also when they may make official announcements of which retailers have already signed on?

By: jeff

jeff — Thu, 01 Jan 1970 00:00:00 +0000

Maybe not for a tax write-off as you indicated since they are a non-profit organization. How about a shelter for their profits. Spend it on land for future facilities that they never intend to build, part of the expense of doing business. This way the profits are spent and written as expense, thus no more profits. Retaining their non-profit status. Just a thought.

Whatever the reason, I sure hope that it is not true as it will deal a blow to any rapid development at the Promenade.

By: John M. Zukoski

John M. Zukoski — Thu, 01 Jan 1970 00:00:00 +0000

Hi Jeff – as far as I know, this is a rumor. I received confirmations from the City of Dublin in Mar-08 and again in Aug-08 that Kaiser would be building their facility here in Dublin by 2015. Here are two related Around Dublin posts:

http://arounddublin.blogspot.com/2008/03/random-development-updates.html

http://arounddublin.blogspot.com/2008/03/kaiser-property-development-information.html

Additionally, I believe that Kaiser is a non-profit organization (http://en.wikipedia.org/wiki/Kaiser_Permanente). Based on this, I don’t know that they would have an incentive to purchase land for tax write-off purposes. However, I’m not a CPA, so I’m not familiar w/ the various tax laws related to non-profits and protecting tax-exempt status.

With all that said, this is a rumor that seems to have permeated throughout Dublin and we need to know if it’s true or not…I’ll see if I can get an update on the Kaiser project.

Thx, John Z.

By: Jeff

Jeff — Thu, 01 Jan 1970 00:00:00 +0000

John,

Have you heard this rumor that Kaiser has no intention of ever building on that land in Eastern Dublin? They are known to purchase land to use as tax write-offs. No different with this purchase as what I've heard from different sources with city ties.

If this is true it is a big lost to the city as we'll never realize any benefits from that highly visible piece of property. The Lin Family could very well may have screwed us up royally if this was true by selling to Kaiser without due diligence on their history.

Instead of a thriving office campus to spur development of the Promenade, it is an empty lot.

Even if Kaiser were to build, the city already was looking at no revenue, but at least there would be people and high paying Doctor jobs. Now it seems we won't have that either.

By: John M. Zukoski

John M. Zukoski — Thu, 01 Jan 1970 00:00:00 +0000

Hi Anonymous – everything is possible. The city impact fees are controllable by the City of Dublin. On a related note, impact fees for opening stores and restaurants cost more in the East Dublin Specific Plan area because of the high cost of building out infrastructure.

Thx, John Z.

By: Anonymous

Anonymous — Thu, 01 Jan 1970 00:00:00 +0000

Thanks regarding the sewer fees. Is it possible for the city to ease some of the other fees that we can control to lessen the pain or cost a bit? I know the city relies on these development fees to pay for our parks, infrastructure and services. But cutting these fees upfront to attract top line business will payoff off in greater numbers for years to come.

By: John M. Zukoski

John M. Zukoski — Thu, 01 Jan 1970 00:00:00 +0000

Hi Anonymous – regarding the sewer fees, all cities in the Tri-Valley are charged incredibly high sewer hookup fees. I’ll check to see if I can get fee comparisons for each city/area.

Thx, John Z.