Grafton Plaza Granted Flex Development Option
Grafton Plaza is a project located along Dublin Boulevard next to Buffalo Wild Wings and Karma Fusion Lounge in the Dublin Ranch Villages. Dublin City Council recently gave the go-ahead to provide Charter Properties with the flexibility to develop the Grafton Plaza property as either a Mixed Use project with 50% residential and 50% commercial/retail or as a Campus Office project with 100% office buildings. The Mixed Use designation allows for a variety of uses including residential uses like condominiums, live-and-work spaces, and shopkeeper units or commercial uses such as offices, retail spaces, restaurants, hotels, and entertainment facilities. Speaking on behalf of Charter Properties, Martin Inderbitzen indicated that while Charter Properties is not planning to develop Grafton Plaza until the economy improves, having the flex development option will open up more opportunities for Charter Properties.
Both options will have a new maximum footprint of 496,519 square feet. This maximum footprint is less than one-half of the square footage requested and approved by the City Council in 2008. The reduced square footage means that the buildings at Grafton Plaza will not exceed six stories, while the original square footage approved in 2008 would have allowed buildings up to ten stories.
Mayor Tim Sbranti recused himself from this recent decision, because he is a resident of the nearby Villas community at Dublin Ranch Villages. He did, however, speak as a Dublin resident during public comment. Mayor Sbranti commended Charter Properties for reducing the proposed height of the Grafton Plaza project after listening to feedback from the Dublin community. Councilmember Don Biddle noted that he liked the Mixed Use option, because it would bring development more in line with the current and proposed projects in the Dublin Ranch Villages area. “Maintaining the original density in terms of square footage for the site and more realistic concepts for the Tri-Valley area will also allow the site to develop quicker, benefiting the entire area,” observed Mayor Sbranti.
Given the long and expensive legal battle Charter Properties is in over the Oak Grove project in Pleasanton, the underwhelming demand for commercial space at Grafton Station in Dublin, and the extremely tight credit market, speculations over Charter Properties’ cash flow persist. Charter Properties could be shopping the Grafton Plaza project around to other developers in an attempt to shore up its cash reserves. Obtaining the flex development option has broadened the base of prospective buyers for the Grafton Plaza project significantly. The approval of the Flex Development Option would facilitate an outcome similar to the Gateway Medical Center for Grafton Plaza. In the case of the Gateway Medical Center, the original developer requested to have the flexibility to build either a hospital or a health office building. After the City Council approved the expanded development options, the developer sold the project to the Eden Township Health District.
10:19 AM on June 2nd, 2010
Is it possible to see a bigger image of the map?
8:50 PM on June 2nd, 2010
Is this what you’re looking for: http://www.thepromenade…com/pop_overview.html
11:45 AM on June 10th, 2010
Thank you Lucas! Yes, your link is very helpful!
2:14 PM on June 30th, 2010
Don’t expect a promenade, Grafton, or much Dublin Development anytime soon. The city has poor planning and direction with minimal anchor stores to that end of town and plenty of better cities/land to choose from. Additionally, Dublin has never been very good at being a ‘good’ city. It has always been seen as the ‘ghetto’ of Pleasanton and San Ramon.
Times are tough everywhere. I love the tri-valley and grew up in Pleasanton. I too was excited to see the growth in Dublin. Since moving back to the bay area this year from CO (4 yrs), so much has been developed – or should I say over developed.
San Ramon has a new ‘village’ development in progress as well – they too are now saying it will be delayed. You can check on their city website. Too many downtowns will be trouble. Oh wait, its already showing.
8:54 AM on July 2nd, 2010
Is this Debbie Downer?