Speculation About Dublin’s Whole Foods
With their recent financial challenges and stock price down around $10/share, there has been a concern that Whole Foods may be postponing their plans to open at The Green on Park Place during the First Quarter of 2010. Whole Foods reported cash on hand of $31M as of their last 10-Q filing on September 28, 2008 and have been noted to have about $22M in cash as they head into the new year.
Given that the cost of improvements (e.g., flooring, refrigeration units, display shelves) to open new stores has been estimated to range somewhere between $7M-$8M, it may be difficult for Whole Foods to invest the required funds and working capital to open their new store at The Green on Park Place by the First Quarter of 2010.
If the opening of The Green on Park Place is pushed back, then the project’s developer (Blake Hunt) will likely continue to tear out the infrastructure that had been put in place as part of the IKEA project and then sit tight until the economy turns around.
While Whole Foods’ opening may be pushed back a bit, The Green on Park Place will be a huge success and a shopping experience that Dublin can be proud of once it opens.
Please note that the project’s developer did not respond to an email request for confirmation of this speculation.
9:11 AM on December 26th, 2008
Are what you saying is that if whole foods pulls back then the green will not start construction until whole foods is ago?
9:16 AM on December 26th, 2008
Hi Anonymous – Blake Hunt will want to hold off on starting construction until they have an anchor for The Green.
Thx, John Z.
9:27 AM on December 26th, 2008
The other question is then, at some point Blake Hunt has to have some type of assurance that Whole foods will sign a lease, right? So, let’s say things get worse for whole foods after they sign a lease and then blake hunt starts construction, then what happens? Based on the economy and people not spending money at higher end grocers, it could be awhile before we see the green. I would think that we should hear soon if Blake intends to proceed because every month they don’t start delays the project into 2011.
9:53 AM on December 26th, 2008
Where does this speculation come from? Is there any indication from Whole Foods or anyone else that they’re pulling back? They almost certainly wouldn’t build out hte place solely from cash on hand.
10:46 AM on December 26th, 2008
I think anyone who follows the news and is capable of putting together the pieces for themselves can see this speculation as a very likely possibility. Still, I am holding out hope that it will just be a delay and not a complete pullout. Given the state of the economy, cash is king for solid companies like Google and those hanging on by a thread like GM. If Whole Foods is having trouble meeting earnings expectation from their current stores in well-established neighborhoods, they certainly would be wise to think twice about starting any new storefront. That's just sound business practice. The fact is people are doing more of their grocery shopping in Costco, Walmart, Target, and Safeway, because a dollar there goes a lot farther than at Whole Foods. I would be interested to see how quickly Fresh & Easy moves into the Rose Pavilion. How quickly Fresh & Easy proceeds will be a good indicator of how likely Whole Foods will move forward with their Dublin store.
12:10 PM on December 26th, 2008
I wrote Fresh and Easy twice trying to get them to move to Dublin (Grafton Station) since it's such a better location (walking distance for thousands of people, whereas Rose Pavillion isn't— I've only been to a Fresh & Easy once (in AZ) but it was perfect for those that like a mix of Trader Joe's and Safeway (Name brand items like Tide and Coke as well as unique gourmet food items and lots of great meat and seafood).. I really think a small grocer like that would do very well in Grafton Station (I think they also had lots of prepared meals and single-people meals which are great for "walk to the store to grab something to eat tonight" locations like GS—
12:14 PM on December 26th, 2008
If we see a big slow-down in development progress I wonder if Dublin should/would consider some more aggressive action to help bring in businesses (Tax incentives to get them to open,etc). Yes, we’d be paying for private businesses to come to Dublin, but if the delays were to last a year or so longer I think that the investment of tax credits (or something) might be offset by eventual tax revenue.. I’d rather throw some money to businesses to come to Dublin now and start getting some tax revenue than wait for a few years (no tax credit, sure, but also no tax revenue).. What do others think?
12:14 PM on December 26th, 2008
John is hardly in the minority in his assessment. The numbers don’t lie. Check out the following article for yourself:
Whole Foods in a Whole Lot of Trouble
WFMI: 8.77 Down 0.32 (3.52%) 2:12PM ET 12.26.2008
Keep in mind that WFMI traded at over $40 per share in January 2008.
2:06 PM on December 26th, 2008
As a Safeway employee, I’m happy to see a competitor like Whole Foods have trouble. But as a Dublin employee, I’m disappointed about the news because I thought it would be great for the city.
On the other hand, what does WF expect? Their prices are outrageous and they have no shame selling all those herbal supplements that don’t work.
To me, this presents a great opportunity for a Fresh and Easy or some other store like that (Andronico’s?) to step in and capitalize on WF’s hardships.
2:08 PM on December 26th, 2008
Pardon the ignorance, but does anyone know if Whole Foods in fact signed a lease for Green on Park?
5:01 PM on December 26th, 2008
Fresh & Easy delayed: http://www.contracostatimes.com/search/ci_11297611?IADID=Search-www.contracostatimes.com-www.contracostatimes.com
8:03 PM on December 26th, 2008
I like Whole Foods and Fresh & Easy. I would prefer to shop both than Safeway. The problem I see here is that both will compete with the 2 Safeway and Ranch 99. I noted that Safeway West Dublin is losing patronage because of Ranch 99. Another competition will dilute the dwindling patronage for Safeway who committed and supported the city. It is hard enough to compete with Ranch 99 as prices at Ranch 99 is much cheaper than Safeway. I am not sure if Whole Foods or Fresh & Easy is good competition for all four. It is good to see 2 outperforming establishment than 4. As all may disappear because of stiffer competition. Besides Trader Joe Pleasanton is close to East Dublin. Mervyns Dublin faced stiff competition with Kohl's Pleasanton that it is closing down. Circuit City is closing because of Best Buy Dublin. Not sure about adding a 3rd or 4th grocer market organic or not.
8:43 PM on December 26th, 2008
I love TJ’s but never go there, because of the parking. I prefer to drive to the San Ramon WF. As for Mervyns and Circuit City, those chains are both in bankruptcy and their closures are not specific to competition in Dublin.
11:38 AM on December 27th, 2008
Mervyn’s, Circuit City going out of business or Wholefoods possibly being delayed or cancelled were due to factors outside of Dublin’s control.
What Dublin does control is a balance of income levels, from low income to entry level to established families to high net worth executives. One anonymous mentioned above out Dulin’s potential inability to support a Wholefoods due to its outrageous pricing for organic/gourmet/natural products. This points to Dublin not having a well balanced housing stock. Too heavy on entry level and low income homes, not much on the family and high net worth side. With this fact Dublin will always be the center for lower end discount type big box stores. Not the upscale Andronico’s or Wholefoods that some of us do wish we had so we wouldn’t have to drive to SR once a week to do our grocery and end up spending at their Target and eating at their restaurants instead of Dublin’s. We just don’t have the higher end income level here to support upscale retailers like SR, Danville, Pleasanton, Alamo and Walnut Creek can. As long as Dublin remains on the cannot side, we’ll never realize the center that we envision getting at the Green at Park Place as Blake Hunt won’t be able to attract such retailers to balance out our retailing stock/variety, bringing a piece of upscale to Dublin. Same goes with the Promenade dream and Grafton Plaza.
Nothing wrong with competition, as long as it is not a predatory behemoth like Walmart that sucks the life out of any small scale retailers.
This news about Wholefoods is discouraging as we’ve been eyeing 2010 for the grand opening, bringing Dublin up to a level closer to our neighbors along the 680 corridor when it comes to a destination/upscale retailing experience. It would have been a complement to Hacienda Crossings where it is heavy on discount big box.
11:43 AM on December 27th, 2008
Ok, so call me a Dublinite, but the delay in opening Fresh and Easy at Rose Pavillion could be something we could take advantage of.. Anyone interested in starting up that petition to send to Fresh and Easy Corporate? The argument would need to be that the location (in Rose Pavillion) is somewhat of a deadzone in Pleasanton. Instead, perhaps they can move into Grafton Station or similar, where thousands of residents are within walking distance to “hop down to Fresh and Easy” – Yes, the rent will be higher in GS compared to RP, but the amount of residents that are close to GS (walking distance) is of great value. Plus the Grafton Station location would just be much more high profile than the hard-to-find (and hard to remember) Rose Pavillion.
1:42 PM on December 27th, 2008
That is a great suggestion… Gordon. I am recruiting a big online internet store as I do like the products they sell. As residents can effect decision making from big wig corporate executives. My recruiting so far is turning out positive. They will consider Dublin when economy starts picking up. This store specializes in one are and it is not like Walmart. I hope no Dubliner is going to Walmart. I am guilty as we don't have an outdoor sport store except Any Mountain. Which they don't carry fishing equipments. John Z maybe you can research email address or person/s responsible in store locations for Fresh & Easy and Whole Foods. I will rest my case on competition. At least they may attract cross city consumers from Worst-aton or Live-less. I hate losing either West or East Dublin Safeway because of competition. Send those letters or emails to recruit stores in our beautiful city. They do work….
7:10 PM on December 27th, 2008
Hi Jing and Gordon – I love the idea of contacting our most desired stores to suggest locations. Here are just a few grocery stores that Around Dublin readers can contact:
Whole Foods – http://www.wholefoodsmarket.com/company/contact_submit.php
Fresh & Easy – http://www.freshandeasy.com/locationSuggestions.aspx
Andronico’s – http://www.andronicos.com/contactUs.php (please direct comments to the Head Office)
Nugget Markets – comments@nuggetmarket.com
Draeger’s – info@draegers.com
Can you think of other types of stores would be a good anchor at The Green on Park Place?
Thx, John Z.
11:02 PM on December 27th, 2008
I wish Blake Hunt thought about having places for families, like a Discovery Museum w/ a sponsor like the Lawrence Livermore Lab.
11:04 PM on December 27th, 2008
This is Dublin and we don’t have an authentic Irish pub yet.
12:01 AM on December 28th, 2008
Oh God, we do NOT need more places for families. We’re already getting something similar to the Discovery Museum in the Camp Parks area. We need places for young adults to give this city some much needed life. We have enough Sesame Streets in this town.
8:53 AM on December 28th, 2008
Maybe Whole foods is considering the promanade area instead. Ive contacted Draegers, Trader Joes, Bings, Buffalo bills from Hayward, crate and barrell. They always write me back. A good anchor is key.
10:48 AM on December 28th, 2008
One high end grocery store no one mention is Bristol Farms of So. Cal. Their only northern CA locations is at the Bloomingdales shopping Center in SF. I don't like them as much as Wholefoods but it is the next best thing if Wholefoods cannot follow through. Bristol Farms is the best bet as it wants to grow in No. CAL. Wholefoods may be in trouble, TJ too small to Anchor, Andronico's is not ready to grow again after closing two E. Bay stores, Draeger's won't open another store so close to their Danville location.
Jing: if you are concern about a fourth grocery store such as Wholefoods driving Safeway out of town, remember that competition and variety and choice is healthy for the consumer. Remember that without a store like Wholefoods to anchor The Green at Park Place, The Green at Park Place will never happen. Or if it does it will be no different from the discounts big boxes we already have at Grafton Station, Hacienda Crossings, Dublin Place, Enea Plaza etc.. REI, CPK, Crate & Barrel, Container Store, Elisa Wen, Anthropologie will not open a store at a center only anchored by a Burlington Coat Factory for example. High end restaurants such as Bings won't locate at a discount big box center either.
Like Tom said, a good anchor is key. It is also though key to what mix of supporting retailers we get at a Center. Will we get another Hacienda?, another Shamrock Plaza? or will we get The Green at Park Place that we all envision coming to Dublin with Wholefoods as anchor.
10:56 AM on December 28th, 2008
One more thing about competition. Wouldn’t you rather have a 4th grocery store such as Wholefoods in Dublin instead of across the freeway in Pleasanton? Either way Safeway would need to be competitive to stay alive. If one needs to go, I’d rather it was because of another store in town instead of a store in another town. For example I shop at the Wholefoods and TJ that are not located in Dublin. Although they don’t represent the 4th competitor you mentioned, it still takes business away from the Two Safeways regardless. Wouldn’t it be better if the money we spend at a competitor such as TJ or Wholefoods is spent here in Dublin instead of SR or Pleasanton or Lunardi’s/Draegers in Danville?
1:31 PM on December 28th, 2008
How about Mollie Stone’s? It’s a great store similar to Whole Foods that’s in Burlingame. Lunardi’s would also be a good choice. Quite frankly, I was never giddy about WF coming to the Green anyway. WF is so 7 years ago; novel for its time but its high prices have made Trader Joe’s a wiser alternative. It’s time for someone new to step up.
6:24 PM on December 28th, 2008
All this stores are great for Dublin. Competition? I say Worst-aton have the lousiest grocery stores that are non-chain stores. Nob Hill? Pricey. Trader Joe? I prefer Wholefoods. Be careful with Trader Joe. . I heard that small food processing companies are getting away un-monitored by health people. I am not sure but small food companies have certain exemptions from the safety law. Just don’t be cozy by seeing the word “organic” or all natural. The big brands are being closely monitored than the smaller ones. I know that WF deal with bigger brands than Trader Joe’s.
On the other hand and I will contradict myself, I would wholeheartedly support having a plaza/flea market/sidewalk type small business at the Promenade. With the current economic situation, the much medium and bigger businesses are having tough decision in expansion or investing more locations. I have heard Mayor Sbranti and Council member Kasie Hildenbrand supporting mom and pop businesses from previous council meetings. I would like to see commercial developments that would lease to individual mini start up businesses around $500 – $1000 per month with some great net percentages. I would love to see an unemployed Dublin mom open a gourmet bread shop. An unemployed Dublin Dad open a small jewelry repair shop. An unemployed Dublin couple truck in fresh produce from central valley. A specialty used clothes store operated by a Dublin resident, a Dublin resident bring in fresh fish from Monterey or Santa Cruz, a Dublin resident providing a one person salon or barber shop. If we add all this small businesses in a class A business setting, adding all their sales will equate to a bigger business establishment sales. The great thing about it is small businesses come from mini businesses like this and medium businesses come from small businesses. Secondly, with the tough times nowadays we should encourage mini entrepreneurship and provide families or individuals opportunity to start a business.
10:52 AM on December 30th, 2008
Lunardi’s is fine but it just does not have the loyal following like Wholefoods. In turn it won’t be as big of a draw as Wholefoods to bring in shoppers to the Center. Other high end retailers will look at who is the Anchor at the Green at Park Place before deciding to locate there. Bristol Farms does have a following in So. Cal and could likely build the same up here once it establishes itself, it will take time to build the brand name. Check out the one in SF underneath Bloomingdales.
11:02 AM on December 30th, 2008
The Market Broiler would be nice, only No. CAL. location is Fremont. The rest are in So. CAL.
Koji’s (Japanese Hot Pot, Grill ad Sushi Bar) would be welcomed too, only locations are in Hollywood and Orange.
12:00 PM on December 30th, 2008
John Z, Thanks for getting all the info for all the possible stores we can get to Dublin. Let us all focus on Wholefoods by sending them an email or a letter. State that you are one of their customers and that you have to travel to San Ramon to shop. With the cost of commute, you are now shopping at TJ at Pleasanton. Mention that have your email or letter forwarded to responsible decision makers in the company. Your letters or email are useful and forceful as more and more companies like to get feedback from their customers. Let us get those emails and letters started. I did it and I was able to get 2 probable stores that will move to our city and was able to get to the decision maker. I am exchanging emails and sending her information about our city. I may need some of your help in emailing my contact. I am waiting until she sees the packet I sent her. It works guys. It truly does.
12:13 PM on December 30th, 2008
I want to add. If you get a positive response or to the decision maker, notify Chris Foss our Assistant City Manager. He is in charge of Economic Development. He is a great guy. He can probably follow up that lead.
12:24 PM on December 30th, 2008
I applaud the activism on display here, but I really think we need to give our elected officials and our wonderful City Staff a chance to respond. Perhaps something is already in the works. Mayor Sbranti is very proud of the Green on Park Place project, so I have no doubt he is working tirelessly with the developers to come up with something even better than Whole Foods. If all else fails, there is always the option to put housing on that prime real estate.
2:34 PM on December 30th, 2008
oooh!!! Housing is a bad word, especially if it is the High Density variety. If we end up losing the Green at Park Place it would be a big lose for Dubliners, to replace it with yet more housing is adding insult to injury.
Only other use for that parcel is a top notch Class A Office development with maybe a major hotel, not residential.
2:49 PM on December 30th, 2008
We need to be supportive of whatever Mayor Sbranti puts forth with the developers, because they have the most information. I have faith Mayor Sbranti will not let the developers put forth anything not in Dublin’s best interest. If it turns out to be more housing, that may just be what Dublin needs to get us through these difficult times. I promise you in two years, Mayor Sbranti will be in better shape than how he inherited.
2:22 AM on December 31st, 2008
Well I hope you are right. As for the past 8 years we’ve piled on High Density housing on top of High Density housing. I has not been all fine and dandy.
2:40 AM on December 31st, 2008
If the mayor can’t make lemonade out of lemons, we can always vote him out in two years. For now, I agree with the earlier commenters. Let’s give the guy a chance.
7:41 PM on December 31st, 2008
Isn’t his term 4 years? By then it may be too late to fix anything if this parcel becomes 1800 + condos to go with the 1800 high density housing already built or approved next door at The Dublin Transit Station (East BART) and possibly 2000 plus units at Camp Parks (mostly medium to high density variety). This is not to mention the other 40 our so acres Blake Hunt owns around The Green at Park Place, they’ve already floated the idea of residential there too, currently zoned Commercial/Campus Office.
But then I did vote for Tim so we’ll cross our fingers and watch him do his magic, hopefully. Hopefully this economic downturn doesn’t make us desperate and take any project that developers throw at us. We still need to be picky and choosy on what is built on our few remaining developable commercial parcels. Otherwise the next four will be no different from the previous 8.
8:52 PM on December 31st, 2008
Dublin gets to elect a new mayor every two years along with two council members. For the 2010 election, Kate Ann Scholz and Don Biddle’s seats will be up for grab. I voted for Tim, because there was no real alternative. In two years, the highly respected Councilman Tony Oravetz will be eligible to run again. I just hope Tim won’t do too much damage to Dublin before Tony can come back and set things right.
10:54 PM on December 31st, 2008
I like Tony with the exception of one thing. He voted against the ordinance banning certain sized big box stores, particularly a Super Walmart. Walmart is a predatory retailer looking to carry everything under the sun while undercutting any competitors and squeezing them out of business one by one. Not good for Dublin’s retail ambition, to be well round with both national chains and local one of a kind mom and pop shops (main street retail).
I was glad at least 4 of the five Councils knew better and voted for the ordinance.
Tony lost my vote on this one issue as I do not want to see a Super Walmart in East Dublin or even the potential for one.
1:12 AM on January 1st, 2009
Happy New Year to all Dublin Residents. May Dublin come unscathed in this economic mess the nation is in. Top 10 wish I have for Dublin.
10) I wish that we put a moratorium on BMR’s in lieu of developers investing the allocation to renovate old clunky (short sale/about to foreclose) homes in central and western Dublin. As BMR’s are causing a pricing competition with for sale homes new or resale.
9) I wish that we can find a real anchor store at Hacienda Crossing. The likes of Bloomingdales.
7) I wish that Sacramento Democrats and Republicans stop their posturing as to who has the best solution for the Delta Water problem and once and for all agree on something that we don’t have to have water rationing in Dublin in the coming years and a final solution is being done.
6) I wish that the Tongs and the Hunts come up with a true commercial development that is geared towards “Stay at Home” and “Zero Commute” concepts.
5) I wish that our Dublin schools API ratings be the tops compared to Pleasanton, San Ramon and Danville. So I don’t lose buyers going to those cities than our great city.
4) I wish that we can attract more class A businesses and more high tech companies in our city.
3) I wish that we can find what majority of Dubliners want as to more High Density or Less Density homes. That the true voice be heard and be executed by our local officials. That a sustainable growth in both commercial and residential development come in to effect.
2) I wish that all Dubliners unite in one voice in where we want our city headed in the next years.
1) Lastly, the tops is that economic prosperity be bestowed to all residents. That unemployed Dubliners can find their dream jobs that they can be passionate about. That all Dublin businesses continue to find profitability and growth in a very tough business environment.
Happy New year to you and your family!!!
1:24 AM on January 1st, 2009
Happy New Year, Jing! Here’s to a fantastic 2009. Our economy has to improve, right?
It would be great if you could write an article on wish #10 for the new Dublin Townhall website to sort of flesh out the details. This is a provocative idea that many residents would love to hear more about.
Thx, John Z.
2:21 AM on January 1st, 2009
I agree on item #10, #3 is interesting too to see really what do Dublin residents want. Status quo on High Density Residential, keep them coming in the thousands, higher and bigger? Or lets back off and concentrate on low density, traditional residential developments.
10:25 AM on January 1st, 2009
I have emailed item #10 to Mayor Sbranti for quite a while now. He favors it and is researching how it can be done. I hope he can come back with a good proposition as this is first in the state or the nation. It will enhance and envigorate old Dublin communities resulting in higher home prices.
10:35 AM on January 1st, 2009
I wouldn’t hold my breath. Tim is good at making a lot of promises he cannot and does not intend to keep. Just look at how he flip-flopped on clamping down on the residential density definition. Also I have heard rumors from my friends in Sorrento that he’s pushing for apartments to be built in Sorrento East. Like someone else had said, let’s just hope he does not do too much damage to Dublin in the next two years. That is my wish for 2009 and 2010.
11:12 PM on January 1st, 2009
Jing, I like everything you proposed except for one item:
“I wish that we put a moratorium on BMR’s in lieu of developers investing the allocation to renovate old clunky (short sale/about to foreclose) homes in central and western Dublin. As BMR’s are causing a pricing competition with for sale homes new or resale.”
Instead of building more BMRs, since the homes are already pretty affordable, developers should just pay more impact fees to expedite the completion of Emerald Glen Park, jumpstart Fallon Sports Park, and pay for other infrastructure projects to support the new residents coming to East Dublin. The development of East Dublin depends on every penny of the impact fees. If we start diverting impact fees away from where active development is taking place, the new residents will become a burden to current residents throughout Dublin. Even if there is money left over at the end of build out, that money should never just be given to home owners for remodeling and renovation, regardless of where they live. There has been enough bailout as is, and the City of Dublin does not need to jump on that bandwagon.
12:28 AM on January 2nd, 2009
I like item #10 but do share the same concerns/viewpoint with the last anonymous comment. Great suggestions.
Diverting BMR/Impact fees to further develop public facilities in Dublin is much more favorable as it serves the entire city. Diverting the same funds back into the private sector to help troubled homeowners only helps a few, not the entire City.
Lets leave the bailout to the Feds as their policies of the past 8 years got us into mess in the first place.
With so much High Density Residential in the East with no yards, we need parks in the worst ways.
1:41 PM on January 2nd, 2009
I don’t think that building BMR’s cost is part of impact fees. BMR’s if I am right is actual build out capital by developers just like a regular new home in the project. Except that the sales price is much cheaper than the regular homes. It may be indirectly impact fees. But impact fees given to the city for parks and others is separate. The Nov 4 agenda for Positano and Anderson that 40% of the BMR allocation be paid to the city and still keep 60% still to be constructed. In that meeting it was pointed out too that BMR’s are hurting regular home sales as their prices are almost close to one another. That BMR’s are not moving too as more and more buyers are having a tough time getting a loan due to tough lending requirements. In my perspective as a realtor, BMR’s sale price is still part of comparable sales in that general location and will hurt home prices in general. This is my suggestion to Mayor Sbranti.
1. Put a moratorium of 3 to 5 years on BMR’s as it is competing with the new homes and are not moving either.
2. Allocate those funds by having developers purchase under duress or any resale home at old communities in Central and Western Dublin.
3. Have the developers do the actual renovation through their subcontractors.
4. Reselling the renovated homes may be sold for profit and still keep those funds as future BMR funds. Have an independent body manage or audited the funds.
5. The current state of our housing market is conducive for this type of ventures. The benefit is that the neighboring homes will increase their prices as now the whole area is getting some good facelifts. The other great thing is the comparable sales may just hurt when this properties are bought by the developer but then will increase comparable sales when it is resold. All a win –win situation for the city. Chances are that BMR funds can get additional revenues.
I favor using this funds to parks and other much needed city projects. But I totally feel that renovating old neighborhoods will give prestige to our city and help Dublin home prices. Yes, you are probably right that BMR funds can be diverted. But impact fees and BMR funds are totally separate allocations.
John Z, I would love to have this topic as part of the townhall discussion. I love the townhall meeting forum. Keep up the good work to you and the AD team.
1:57 PM on January 2nd, 2009
A couple of items I want to add. Home price increase as this project is all about is also good for the city as home prices and city revenues are directly proportional. Increase in home prices is increase of property taxes. Second is that my original idea in this project was to have Toll, Shea and others that profited tremedously during the Disneyland days to give back to the community by investing on this type of flips. I still would like them to do this venture. But I doubt if they will. Hello Toll and Shea anybody listening??? I hope you step up to the plate to help our home prices.
3:22 PM on January 2nd, 2009
Hi Jing – thank you for offering to contribute to the Dublin Townhall forum/blog. An invitation will be sent to you via email to post the article.
Regarding the cost of providing affordable housing through the BMR program, the total requirement is 12.5%. Developers have the ability to build 7.5% and pay the residual 5% through in-lieu fees. Former Mayor Lockhart has noted in previous City Council meetings and other discussions that these costs are not passed through to the market-rate home owners within a development. However, from an economic perspective, one could argue that market-rate homeowners are subsidizing the cost of the BMR program on an indirect basis since the 12.5% requirement applies to all developers. In other words, if all developers in a distinct area need to build or pay fees to meet the 12.5% requirement, then they will all be able to raise their prices to compensate for the additional cost of the program. The flip-side to this is that the home prices still need to be competitive with nearby communities…so it wouldn’t necessarily be a 1-for-1 relationship.
Thx, John Z.
4:40 PM on January 2nd, 2009
Hi Jing,
Please send an email to arounddublin@gmail.com, so I may grant you access privilege to the appropriate email account. Thank you for your help.
4:45 AM on January 3rd, 2009
How can Sbranti even think of more apartments in the Sorrento East development? John Z is this true? Where would this go and how can the people of Dublin STOP it?
10:49 AM on January 3rd, 2009
It could just be and unfounded rumor. But given the track record of City Hall the past 8 years in regards to high density housing, or the shortsighted love affair with it. I wouldn’t be surprised one bit it if was true.
5:14 PM on January 3rd, 2009
Hi Anonymous 1/3/09 3:45AM – the developer would like to build an apartment complex to the south of the proposed park and Kolb Elementary School at Sorrento East. This would be closer to the Central Parkway side of the project. At this point, everything is still in the discussion phase and plans have not been formally submitted by the developer.
Please feel free to contact the members of our City Council to provide feedback:
City Council Contact Information
Thx, John Z.
5:04 PM on January 16th, 2009
John Z.,
I don’t if you noticed the graffiti that is growing by the day right on the Blake Hunt Property. It is on the green tarp covered chain link fence next to 580 along Arnold Street. Since this is on Private property, who is responsible for the removal of such graffiti? It is an eyesore and provides a bad image of Dublin for thousands of drivers to see on 580 heading West.
5:06 PM on January 16th, 2009
The longer a graffiti is allowed to stay up before removal, the higher the reward is for the vandal as publicity is what they want. I will encourage others to try the same. Prompt removal is needed of any such vandalism.
5:18 PM on January 16th, 2009
Hi Anonymous – the property owner is responsible for removing the graffiti. I’ve contact our Senior Code Enforcement Officer to visit the site, confirm the damage, and then contact Blake Hunt to have the graffiti/tarp removed.
Thx, John Z.
10:28 AM on January 17th, 2009
Thank you John, much appreciate it!!
5:10 PM on January 20th, 2009
More rental units will drive down the rent. This will eventually bring down the home price. To some extent home price is also evaluated according to the real rate of return. I also see the rent is pressured to come down due to the higher vacancy rate. If the job growth in Dublin does not keep pace with the housing inventory, the housing price still has lots of room to come down. Compared to the adjacent Neighborhoods like Pleasanton and San Ramon, the houses in Dublin has dropped more in value. By only converting the sale units to rental units is not to solution to stabilize sale price. They are closely related. In my opinion, the city should focus on business-oriented development and public facilties with our limited resources to create a stronger population base to support the housing. For example, bringing back major anchor like Ikea would have an array of effects to attract other businesses.
6:46 PM on January 20th, 2009
Although I crave for more retail like the Promenade, Grafton Station and The Green on Park Place it know the downside. The more retail and low paying jobs we bring to town the more BMRs we need to provide for the workforce. The attract the type of retail we want, the type of housing we want we need to attract high paying class A development, much like SR and Pleasanton have done the past couple of decades.
We are too focused on High Density Housing and Retail while not developing a high paying job bases like our neighbors.
Our workday population pales in comparison to Livermore, Pleasanton, San Ramon, Walnut Creek, Concord and Fremont.
7:54 PM on January 20th, 2009
I just recieved the latest “Smart Money” magazine and has an interview with the CEO of whole foods who says that he still intends to open 15 stores this year and has no intention of slowing growth despite its stock price. It sold a part of the company for 425million dollars to another investor. I don’t know what this means for our store, but someone at Blake Hunt should know something
2:46 PM on January 21st, 2009
Thanks!! A glimpse of hope for the project to proceed as planned. We’ll see if someone can get a response from Blake Hunt on how the comments affect our Project here.
From what I understand and correct me if I’m wrong. The recent woes of Whole Foods has nothing to do with its concept or products or store sales. It was the result of them making bad investments with their assets thus took a hit like many Americans when the investment market tanked. A cash infusion from an investor is indication that the concept and what they sell is still seen as viable, otherwise they would not have invested in the company.
2:59 PM on January 21st, 2009
Hi Anonymous on January 20, 2009 6:54 PM – thank you for posting this update w/ the good news from the Smart Money article.
I agree with Anonymous on January 21, 2009 1:46 PM, the $425M investment by Leonard Green and Partners is the best possible indication that Whole Foods has a strong business model. They most likely just juiced up their expansion engine too fast in anticipation of a robust US economy and were caught off guard by the slowdown.
Whole Foods will re-emerge strong once the economy picks up again.
Thx, John Z.
7:05 PM on January 21st, 2009
Here’s the link to the interview in question. By the way, Whole Foods’s woes are caused by Americans flocking to low cost stores during these tough times. I work for a major grocer so I hear the insider buzz. Yes the investment is good news, but WF’s high prices are not going to work in this economy right now. Maybe in a few years, but not right now. But I agree that WF should continue expanding so that when it bounces back, they are well poised.
http://www.smartmoney.com/investing/stocks/is-whole-foods-too-pricey-to-thrive-in-a-recession/
11:59 AM on January 22nd, 2009
Thank you for clarification on the cause of Whole Food’s woes and also thanks for the link.
I for one though still would like to see a Whole Foods here in Dublin sooner than later so our family does not need to continue driving to SR or WC for the other E.Bay locations. We always end up shopping at the SR Target and eating nearby there instead of spending and eating in Dublin when we travel to their Whole Foods store.
I agree on the high price but fortunately I am able to and are willing to pay for quality. Their ready to eat food options/section and bakery are first class. Safeway has improved but the Organic section is less than impressive when it comes to produce. Their ready to eat food are cafeteria like. We do still support Safeway too though as it is a local Tri Valley Co. It’ll just be nice to have a higher scale gourmet option like Whole Foods in Dublin, plus we need it for this Retail Center to become reality in our lifetime. Some on this blog have shunned at Whole Foods but really a Ralph’s or Food Max would not get us the Retail Center that Dubliners and Blake Hunt envisioned. We’d end up with more Condos/Apartments. Bloomingdales is not an option so we can stop dreaming, they’d open one in WC or Pleasanton before any thoughts of Dublin.
Hopefully we’ll hear some sort of announcement in the coming months regarding the status of The Green on Park Place.
11:23 AM on January 27th, 2009
The grafiti on the Blake Hunt fence is gone. Thanks for contacting the City Enforcement Officer.
11:51 AM on February 6th, 2009
So when do we find out when Blake Hunt will develop the land or not?
5:52 PM on February 6th, 2009
Well Whole Foods supposedly got a large cash infusion from an investor so hopefully it will put this project back on track soon.
I’m as anxious as anyone to hear words. At this pace after two false starts we may see BART to Livermore before ever being able to stroll and shop here.
4:36 PM on May 6th, 2009
Blake Hunt who was so enthusiastic about this trophy project in their own backyard and now seems erily silent about the future of this project.