Top 10 Little Lies Overheard at Dublin City Hall About the Promenade
Charter Properties and Dublin City Hall have recently launched a campaign of misinformation to recast their attempt to renege on the promise of high-end retail at the Promenade in Dublin, CA. The goal of this campaign is to win public support for additional residential units on top of the 1,396 already built in the heart of Dublin Ranch Villages. To ensure that all residents see the true intentions of Charter Properties and the City of Dublin clearly, the Around Dublin Team would like to share the Top 10 Little Lies Overheard at Dublin City Hall About the Promenade.
Little Lie #10: By High Density We Mean Single Family Homes. Charter Properties is now telling residents that KB Home will be building single family homes at the Promenade after submitting a request to rezone half of the Promenade for higher density housing up to 25 homes per acre, or one home per 0.04 acres. Will these single family homes look like cheap replicas of the Leaning Tower of Pisa at build-out?
Little Lie #9: Retail at the Promenade Will Not be Impacted. City of Dublin Public Information Officer Linda Maurer-Smith has claimed that the main street retail portion of the Promenade would not be impacted by the rezoning, but the bottom line is that 50% of the Promenade will be converted into higher density housing if Charter Properties wins City Council approval. For a decade the City of Dublin has promised residents that the Promenade would rival San Jose’s Santana Row, not a strip mall in Bell, CA.
Little Lie #8: We Only Want to Rezone Part of the Promenade to High Density Homes. Once Charter Properties succeeds in initiating this controversial rezoning process at the Promenade, it will have every right to demand the remaining half be changed to high density residential at a later time simply by claiming that it is confronted with a difficult short-term commercial real estate market. The City of Dublin has already set this precedent recently, when it scrapped the 15,000-square-foot retail component of the Esprit at Dublin Station, citing lackluster demand for commercial space.
Little Lie #7: Charter Properties Only Wants What is Best for Dublin Residents. Many residents throughout the Tri-Valley have speculated that Charter Properties is cash-strapped and has been very motivated to sell the entire 11.4 acres of the Promenade for the past two years. If the price is right, Charter Properties would likely have no problem scrapping the long-awaited retail component of the Dublin Ranch Villages completely in favor of additional residential units, even if doing so means devastating everyone’s property value.
Little Lie #6: What You See is What You Get. The map of the impacted area the City of Dublin should have included in its courtesy mailing seems to suggest that only about a third of the Promenade will be rezoned to high density residential. Unfortunately, the City’s map highlighting contradicts its own public hearing notice, which clearly states that 50% of the Promenade is being rezoned. Is the City of Dublin resorting to optical illusions to mislead the public?
Little Lie #5: The Vision of the Promenade Remains the Same. When referring to the two buildings that currently sit on the retail space being converted to higher density homes, Dublin City Councilperson Eric Swalwell anticipates that “the square footage of these two buildings will be absorbed in the main street retail buildings.” Not only is this statement not grounded in reality, it presents a chilling picture of what Charter Properties considers to be a main street retail plaza. Instead of the well-proportioned buildings like those at The Streets of Brentwood, Charter Properties seems to be proposing bulky three-to-four-story buildings along Grafton Street. Ironically, The Streets of Brentwood is among the many impressive accomplishments by Dublin’s Public Information Officer Linda Maurer-Smith while she worked for the City of Brentwood.
Little Lie #4: If You Let Me Build More Homes, I Promise to Build the Promenade. Charter Properties has long cited an insufficient customer base as the reason for not moving forward on the Promenade. Even as Paragon Outlet Mall, which is less than 2 miles away in Livermore, races to finish its first phase by November 2012, Charter Properties is too lazy to come up with a fresh excuse for not starting construction. In the meantime, the Livermore outlet mall has already signed leases for over half of 120 stores in the first phase. While the proposed rezoning would be catastrophic for residents in the Dublin Ranch Villages, it would only increase the Promenade’s target consumer base by about 0.1%.
Little Lie #3: The City of Dublin and Charter Properties Have Done More Than Enough to Notify All Interested Parties. According to Dublin’s Public Information Officer Linda Maurer-Smith, the City of Dublin has mailed out 2,300 courtesy notices to residents in the area voluntarily, implying that the City was under no obligation to notify anyone of the proposed zoning change. The Around Dublin Blog, nevertheless, continues to get reports from impacted residents who claim that they have yet to receive the City’s mailing. In the meantime, Charter Properties is scrambling to put together a last-minute outreach event, after being criticized by the Around Dublin Blog for not engaging nearby residents before submitting the zoning change request.
Little Lie #2: Charter Properties Will Reveal All at its Last-Minute “Dog and Pony Show.” After the City of Dublin received overwhelming opposition against additional higher density residential units in an area saturated with condos and townhouses, Charter Properties scrambled to organize an outreach brunch at Cellar 9 on September 18th from 10:00AM to noon to seek public support for an unwanted zoning change. Charter Properties has repeatedly put on such charades to secure City approvals and public support only to break its promise once it comes time to start construction on this highly anticipated retail project.
Little Lie #1: By “Public Use” We Meant You Get to Use it to Park Your Car. To get the Dublin Ranch Villages project approved, Charter Properties originally agreed set aside the 3.1 acres of land in question for public / semi-public use. The only public use that parcel has seen to date is absorbing the parking overflow from the surrounding residential neighborhoods, which is a far cry from the concerts and special events promised by Charter Properties when it tried to garner public support for the mega towers at the now-dead Grafton Plaza. According to Dublin City Councilperson Eric Swalwell, Charter Properties has “worked actively in trying to have various uses” on the 3.1 acres currently zoned for public / semi-public use. Swalwell went on to add that “there was a conversion language that allowed the developer to move forward (i.e., sell the land for a higher profit) after ten years.” The fact that Charter Properties is now ready to cash in on the 3.1 acres of land currently dedicated to public / semi-public use with the unpopular proposal for additional higher density homes, therefore, should not come as a surprise to anyone.
Because the City of Dublin has failed to give all the impacted stakeholders sufficient notice in advance, the Around Dublin Blog has created the email form titled “Keep the Promenade’s Promise” to make it as easy as possible for frustrated residents to express their opposition to this unwanted land use change. Please consider asking as many friends and neighbors as possible to use the email form AND to attend the public hearing on Tuesday, September 20th at 7PM in the City Council Chambers with you. Anyone who cannot attend due to scheduling conflicts are encouraged to click on the button below and take action now against this stunning betrayal by the City of Dublin.
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9:56 AM on September 14th, 2011
Project like Promenade requires a lot of residence nearby. They cannot build a profitable project like this unless they build more houses. The choice is clear, you can try to stop more houses in the area and that means Promenade will be delayed forever, or you can have more houses and at least part of the Promenade be build. San Jose has over 1 million population to support the Santana Row; Dublin simply cannot afford Promenade with the current population. Business need to be profitable, or no one will build a Promenade to lose money.
Promenade is not a outlet mall. Outlet mall sells cheap discount brand products that mostly attracts out of town shopper and can be build in a remote area. Promenade, Santana Row, and Bay street on the other hand can only be build at the heart of populated area.
10:01 AM on September 14th, 2011
Hi Anonymous,
Again, the challenge today is that residents in East Dublin, especially those in the Dublin Ranch Villages, have heard that tired line for the past 10 years. Charter Properties is too lazy to come up with a fresh excuse for not starting construction and has now dangled that promise of high-end retail one too many times. Why should residents believe Charter Properties when it has utterly failed to deliver on many of its earlier promises?
10:13 AM on September 14th, 2011
If Promenade is profitable, I don’t see a reason why they won’t want to build it. I am not a supporter for this developer or in favor of their doing. I simply believe Promenade need more population nearby to be profitable.
Residents nearby should come up with a solution that works. Simply protest the rezone is not enough. They need suggest a workable solution to build Promenade and make sure it is profitable and meet the interest of developer.
11:27 AM on September 14th, 2011
How much more population do they need? 10 thousand? 1 million? East Dublin is virtually a construction yard with many years of construction to come. Huge outlets project across the highway somehow got the funding and does not complain about lack of population around it.
12:42 PM on September 14th, 2011
Promenade is not outlet mall or retail plaza. For retail store like Safeway, the number I read was 5000 household nearby. For outlet malls, you don’t need nearby population. I’ve seen Outlets build in middle of nowhere to reduce the cost. People drive there to get discount products and get out. They don’t social with friends or have dinner there. I don’t have the number for Promenade type of projects, but what I know is both Santana Row and Bay street are located in much populated area than Tri-valley.
12:48 PM on September 14th, 2011
Hi Anonymous,
Again, the problem today is that residents in East Dublin, especially those in the Dublin Ranch Villages, have heard that tired line for the past 10 years. The number of Charter Properties deems sufficient to start the project keeps going up with each delay. Charter Properties is simply too lazy to come up with a new excuse for not starting construction and has now dangled that promise of high-end retail one too many times. Why should residents believe Charter Properties when it has utterly failed to deliver on many of its earlier promises?
1:17 PM on September 14th, 2011
Santana Row is actually located in less densely populated area than Promenade. The latter is literally surrounded by high and mid density developments and more will come in couple next years. Westgate mall is just across the Stevens Creek from Santana Row and essentially serves as a magnet for crowds who eat and shop more at Santana Row. Same model is possible at Promenade. Project just requires vision and direction.
Hacienda was built in the middle of nowhere and it became a success. I can’t accept argument about population. East Dublin is packed and crowded with middle class and young crowd. People like trendy shops and restaurants. I don’t know another area like this in the Bay Area.
1:22 PM on September 14th, 2011
I won’t believe them either. They did a poor job from the beginning.
What the resident need to do is come up with some plan that works and work the best for the area. Killing the rezone plan won’t kick start the Promenade. There should be a better plan.
I personally much prefer to have more houses in the surround area to support the Promenade but leave the Promenade as it was and not down grade the project. But that’s a complicated thing.
I point is project like Promenade need to be in a highly populated area to succeed. It’s not a Safeway.
1:28 PM on September 14th, 2011
Hi Anonymous
1:17 PM on September 14th, 2011
Most people get to Santana Row by car from the south bay area, not on foot from the next door building. Promenade will need the whole Tri-valley population to support it, not just those live next door. This is why I am not in favor of putting more condos in the Promenade site, but I think more houses in the entire Tri-valley area could help a great deal.
1:35 PM on September 14th, 2011
Just for the clarification, by populated area I meant the region is highly populated, but Promenade does not necessarily need to be located in middle of high density condos.
10:02 AM on January 4th, 2012
Hey what about the LIES For the original Dublin side of BART?? Our Retail has been vacant since DAY ONE! sUPPOSED to be an Italian rest., then a SRV Chinese Rest., and them a Gym? We already have one.
Avalon is late on building 505 six story inbetween current and Bart.
The nice shopping center, once to house IKEA that pulled out. Was originally planned for REI, Whole Foods and another Block At Orange walkway, the pallarel side street has changed names as has IH Pkwy more than 3 times in the past 5 years. THEN this LA Builder Financer is supposed to build facing Dub Blvd? OUR AREA is been promised, yes we have ELAN residences,some of us have been here since inception.
PROMISED of a great shopping center of large anchors, instead WE GET nothing but dusty circus and fly by night outfits by the freeway.
WHAT ABOUT US? We were promised earlier on in 2007???
10:56 AM on February 10th, 2012
Get in line dude. We got our promises (Promenade) long before you back in 2001.
8:59 PM on September 15th, 2011
WHY IS THIS SO HARD FOR EVERYBODY TO UNDERSTAND?
2:14 PM on September 14th, 2011
Why is shopping so important to you? Seriously, if the property is going to be changed over to mostly homes then it’s a good thing. Dublin already has an obscene amount of retail and we don’t need more. We do, however, need more community.
6:01 PM on September 14th, 2011
We do, however, need a high-end, pedestrian-friendly retail plaza like the Promenade. There are way too many strip malls like Grafton Station (another Charter Properties failure).
6:15 PM on September 14th, 2011
Dublin’s Public Information Officer should be shamed of herself. The right title should be Public MISINFORMATION Officer.
6:40 PM on September 14th, 2011
Charter Properties is not fooling anyone. If they are sincere, they would have reached out to the different HOAs in the area and get them behind the proposal first. The fact that the City of Dublin is bending over backward to help them spread misinformation and lies makes me think we don’t deserve to be called All-America City. Will people go to their dog and pony show on Sunday? I think my time would be better spent watching football than to be anywhere than that piece of worthless human trash called James Tong.
6:58 PM on September 14th, 2011
PROMENGATE!
9:05 PM on September 14th, 2011
Thank you Around Dublin Team for bringing the topic up and organizing people. You are providing a nice service. I hope many people are responding and emailing.
Could you let us know how many people have submitted via your button link? I hope it’s alot.
All, Keep on rallying! We need to let the Council know we oppose more housing.
9:48 PM on September 14th, 2011
Hi Anonymous,
We just sent out a Thank You email to everyone who’s stepped up and chosen to take action to save the Promenade. If you have already sent the email using our form, you should have the current count. The number keeps climbing (in fact, two just came in as we are writing this reply), and we are confident the City of Dublin will take everyone’s concern over the unwanted zoning change very seriously. When we publish the wrap-up article after next Tuesday’s public hearing, we will share the number. Please continue to spread the word, encourage neighbors to use this simple email form to express their opposition, and invite friends and family to attend the public hearing on Tuesday, September 20th at 7:00PM in Dublin City Council Chambers. Thank you for your help and continued support.
6:55 AM on September 15th, 2011
Overwhelming support does not sway city council votes. They already made up their minds about this issue. A recall election is the next move. This council has that love and devotion for developers not residents who voted for them. START THE RECALL NOW!!!
7:12 AM on September 15th, 2011
Organize a rally in front of City Hall this Saturday so all of Dublin knows about this issue. Western and Central Dubliners are fed up this over saturation of condos, apartments and townhomes too.
12:01 PM on September 15th, 2011
Now there is western, central, and eastern Dubliners.
5:35 PM on September 15th, 2011
i went to a city council meeting a few years ago and a developer representative was presenting their plans and most of the councilmembers were against it because it was high density. i remember Mrs Hildebrand had said that she wanted to see more with backyards which is what Dublin wanted. one said we have enough condos to last us an eternity. i dont know if they still feel this way because i havent been to a meeting since then, maybe we should all go and listen in. I wanted to voice my concern about the Low income/moderate income project (it didnt have a name then emerald vista) i’m REALLY nervous about how that will turn out.
12:53 PM on September 15th, 2011
This is bad news. If Charter feels confident enough to cancel the outreach event, they must already have secured enough votes to get the rezoning approval. Having lived in Dublin during the controversial IKEA days, I can tell you that Dublin City Hall will totally ignore the crowd and go forward with the rezoning by saying this is the best option for Dublin. Oracle executive Robert Hildenbrand’s sloppy second will then make some trite remark about how she used to live in the Villas and how much it pains her to ruin the Promenade for people but she has no choice. If you want high-end retail, come the Danville Livery. It’s already built.
2:41 PM on September 15th, 2011
first of all, the majority of dublin is middle/middle upperclass. the majority of the people in east dublin are asian (i’m asian, i can say that) i want to know how many of us would be shopping at Gucci, Cole Hahn, Kreiss collection etc,. how many of you come home with tons of shopping bags when you go to Santana Row or have you ever been there? i come home with at least 3 bags from Target and my husband and I make 200,000 a year, but nothing but a full stomach from santana row. Look to our wealthy neighbor in Blackhawk. Blackhawk plaza stores are dead, it has never been truly successful. When i visit there it’s virtually a ghost town, oh sure occasionally it’ll get crowded during a special event, but let’s get real Dublin whiners, we are not Silicon Valley, we dont have the wealth to keep a high end mall alive and no business in their right mind would open one during this terrible economy but many of you seem to forget about. will this new outlet mall end up like Tracy’s joke of an outlet mall?
3:42 PM on September 15th, 2011
What’s difference it makes if East Dublin is predominantly asian? Do asians like high-end shops less than whites or blacks?
Are you kidding!? In fact, East Dublin is less asian than, say, South Bay and Santana Row. And asians are not a majority neither in Dublin nor in East Dublin contrary to what some people think.
Pedestrian friendly malls and boutique shops are doing better in this economy than mega-malls. Stuff at smaller boutiques is not necessarily more expensive than at Target. People who could afford a condo in East Dublin (or shopping at Target) may afford shopping at any boutique shop. By the way, the only decent shopping center in the area is Stoneridge mall. Outlets across the highway may be a good supplement to the Promenade project.
4:34 PM on September 15th, 2011
i’m very aware that the santana row area is heavily populated with asians, but look at the cities that surround it, santa clara, los gatos, milpitas, cupertino, campbell, there is money everywhere within a 5 mile radius, to the east we have livermore where a TJ Maxx & Big Lots is being built, not a COACH store (then an ugly ride to Tracy, lathrop, salida)- check their demographics and tell me if they’re considered wealthy. going far west, hayward, castro valley (some money) south of pleasanton is a long drive to Milpitas, get the picture? Hacienda mall is pretty successful because the stores there arent boutiques or even considered high end.
I didnt say people from dublin cant afford to buy from a boutique, but will enough of us and our surrounding community (look above) patronize these stores enough for investors to rush in and build?
i would love to have a Crate and Barrel, Maggianos, Urban outfitter, all of which are reasonably priced
7:02 PM on September 15th, 2011
As matter of fact, Santana Row was built right in the middle of the slum. There’s an island of prosperity nearby in Willow Glen and Southern part of Campbell, but otherwise it’s just bad. Burbank across the 880 is a ghetto with drug dealers hanging out on sidewalks in daylight. Lost Cats and Chinatino are not that close, but they’re definitely most prosperous cities in the area. Residents of West San Jose are shopping at the Great Mall in the best case. Median income and for San Ramon/Pleasanton/Livermore/Dublin/Danville is the same or even higher comparing to South Bay. About 400 thousand residents total for 5 cities. Is it not enough for high-end shops!?
As I said earlier, Dublin is unique to many respects. It’s growing fast, and demographically one of the youngest cities in the Bay Area.
7:05 PM on September 15th, 2011
I don’t mind Crate&Barrel and other shops you mentioned, but they belong to big shopping plazas. Being grown up in Europe I would prefer personal touch of small shops and restaurants. Again, small shops does not mean expensive stuff.
8:55 PM on September 15th, 2011
i like small shops and family owned businesses too, i grew up in san francisco and rarely craved Mcdonalds but look what the rest of our valley prefers. Have you ever tasted the food at Buffalo Wild Wings, it’s horrible, and yet it’s popular, chili’s and applebees has bad food but they’re thriving too. thank god Denicas, athens burger sahara other non chain businesses appear to be doing good. sometimes you have to put in big name stores like crate & barrel just to get people to the area and hopefully patronize the smaller stores.
11:59 AM on September 16th, 2011
I agree, big boxes are needed as anchors, but they should be placed in plazas with big parking lots and easy highway access like Grafton and Fallon. Promenade is perfectly located in the middle of residential area and still close to shopping plazas and highway exits.
3:38 PM on September 15th, 2011
I don’t know what you’re trying to say regarding race, but I find it offensive. Blackhawk is not successful because it is not close to the highways. Tracy’s outlet mall is not successful, because people don’t want to get shot at. We are not whining, but when we were promised something by Jim Tong and the City of Dublin, we expect them to keep it.
By the way, Jim Tong did not build the schools out of altruism. After all, he did not make his millions by giving money away. He had to build them to get projects through and make the millions. Also, he has two sons who live in Dublin and a grandson who will be going to school there. It was purely an investment that will happen to benefit other people.
4:07 PM on September 15th, 2011
i understand everybody’s frutration with somebody not delivering on their sales pitch (not a promise or contract with you), but optimism was high when our houses here were worth substantially higher, our economy (even though it was artificially inflated) was robust, hummers, bmw s and homes were bought by people that couldnt and shouldnt have been able to buy them. the promenade was an exciting concept then, but would you invest your money to build it now? i wouldnt, how many restaurants have opened and closed in ulferts center? (and they’re cheap) as far as the asian comment, i grew up asian, i live around asians and we can be frugal, i would be lieing if i said we werent. Mr tong doesnt want to waste money just like we wouldnt, of course he wants to make money, he’s a business man. i just hope that they dont build anymore condos that may eventually be turned to rentals, then all of us will be in trouble.
6:42 PM on September 15th, 2011
> i just hope that they dont build anymore condos that may eventually be turned to rentals, then all of
> us will be in trouble.
They will build cheap condos that will for sure become rentals. Do you expect him to build penthouses, lofts for artist and mansions over there?
8:57 PM on September 15th, 2011
YES, IN MY DREAMS AND WISHES I WOULD LIKE THAT
12:00 PM on September 16th, 2011
I guess Charter’s answer is “KEEP DREAMING”.
4:20 PM on September 15th, 2011
I hope Jim Tong really is in financial trouble as you say John, because then the likelihood that he will lose the land will be greater, so someone in a better position can come and take the project over. We’ve seen that happen many times before already right here and Dublin and it can work. I don’t mean to wish ill upon the man, but it’s business. As a business man, I am sure he can understand he can understand where I am coming from. The city should STAY THE HELL away from anything that will seem like a bail out, especially on the backs of all of us who bought into the dream.
9:56 PM on September 15th, 2011
I am compassionate as Mr James Tong financial dilemma. If really true. I am positive that he is in dire straits. I would rather have 20 James Tong than 1 Toll Brothers. He tried to be part of this community and willing to work it out. I will side with him if wants to build single family residential homes in this tract. But enough is enough of contributing in making our city the condo capital of the east bay. I am hurting in my home equity. Whatever is left of it. Being a Dublin homeowner since 1988. I am probably in better shape than someone who wishes to use their little equity to put their kid to college. Or a previous client, unemployed parents who wants to lower their mortgage or refinance. Or my neighbor who wants to buy a car to replace his clanker that just keeps breaking. I wish our council members can see or even feel what we Dublin homeowners are feeling. I was a lone opponent during the Villages planning. I have all the emails I sent to Mayor Lockhart and all the council members. I foresaw the parking problem. The deterioration of city revenues and property assessments. I even used the water problem as a reason to stop over developing our city. Because we were having drought problems at that time. With those, I can’t even sway one vote. I wish you all were here and be with me on the front lines of this battle. I changed my view after accepting their reason of being an entitlement city. Even served in the Housing Committee. Now that we are in that treshold, enough is enough. We need our home equities now and more than ever. I advice each council member to talk to their constituents regarding condominium development in our city. In Willow Creek alone I polled during that time was closed to 80 percent. And many more central and western Dublin residents that I knew. One time I had a client looking at Dublin Ranch. The moment they past the villages at Santa Rita road, they told me they would never move in this area. And many more realtor stories regarding our area, that clients passed up for San Ramon or Danville. Due to over developed Condominium projects. If a referendum would occur regarding this issue, I am sure a 90% vote against multi unit housing or PUD’s in our city.
2:04 PM on September 16th, 2011
Any hint that Charter is in financial trouble stems from their failed legal battle in Pleasanton over the Oak Grove development. That is their problem though, why should Dublin Residences and the City of Dublin which had nothing to do with that battle be the goat to bail them out of their financial woes. Why should we allow another thousand or two low cost condos be dumped on our already depressed condo market so that Charter can see black ink again? The Condo market in Dublin is already way over saturated, this does not even take into account the ones approved but not yet built. Like the second phase of The Grove, Grafton Plaza “Charter’s”, Dimanto Property adjacent to Gleason, Sorrento East, Jordan Ranch, Anderson Property, Wallis Ranch “Charter’s”, Camp Parks, Dublin Transit Center (Esprit and Metropolitan). All of the above mentioned have high density components, others are 100% high density. Condo owners in Dublin will basically start giving up hope of ever recouping their investments if the prospect of final buildout is 15-20 years out before all the planned condos are built. People will start walking away from their liabilities again thus further depressing prices for condos in the area. Please no more Condos and High Density in general. High Density Residential does not attract the higher end retailers that we really want to have to supplement the abundance of discount retailers that Dublin already has. We are not saying we want Gucci or Tiffany’s like one blogger claims. High end does not mean outrageously expensive. Just because I want a high end car doesn’t mean I want a Bentley or Maybach. We are looking for the Mercedez and BMWs of high end retailers, not the Rolls Royces that one blogger is saying that Dubliners cannot afford. Also do not bring race into this. All that wealth mentioned within 5 miles of Santana Row is not all caucasion, it is a healthy mix of all races including Asians that are wealthy and are not afraid to spend.
2:16 PM on September 16th, 2011
Hell now we are not bailing out some developer for their financial crisis. Who is bailing me out of my condo underwater crisis? I am staring at the possibility of living in my 2 bedroom condo for the rest of my life, that was not the plan as it was suppose to be my first step in home ownership. Planned to move up as I start a family and need more space. Even with 2 kids now quickly growing up I am stuck and cannot even think of moving up. Unless I do the unthinkable and just walk away which will hurt values in further.
9:16 PM on September 16th, 2011
Get a better job and work harder. I don’t see how new developments could effect your upgrade. If the home valve rise in this area, that means the price for single family will rise even more than the condos and you will have a much harder time to come up with the difference. The down time for house market is the best time to upgrade home if you ask me. 4000 sq ft home prices have dropped from 1.5M to 800K range, but Condos only dropped from 600k to 400k. Do the math, is it easier to come up the 400k difference between large home and condos during this down time, or if you still think it is easier during a strong market when the difference is 900k?
7:40 PM on September 16th, 2011
Where does the venerable Around Dublin columnist Alan Elias stand on this controversial issue of the Promenade rezoning? Given this is the hottest topic the city has seen in years, you think he would have come out with a ‘fair and balanced’ coverage already and wag his righteous finger at John Z. for slamming the City so hard, even though every blow is more than well-deserved. I am starting to think Alan Elias is nothing more than the City’s mouthpiece. He’s whoring out his service to the highest bidder I guess. Perhaps he’s too busy trying to put a leesh on his wife Tamara to worry about our property value. Looks like the residents have to fend ourselves after a long day of work…
8:06 PM on September 16th, 2011
Hi Anonymous – please leave Tamara Elias out of this.
Thx, John Z.
10:32 PM on September 17th, 2011
How many people thought the Promenade was the selling point when they bought the condo or townhouse in Dublin Ranch?
I did.
I don’t mind if they build condos on upstairs the stores and restaurants in “Promenade” area , but not over 1000 more condos.
We should ask City of Dublin to show the finance plan, it doesn’t seems right in desperate need money.
4:23 PM on March 20th, 2012
I, too, bought a condo at dublin ranch because not only did i thought the promenade was going to be built, but toll bros specifically SAID THAT THE CONSTRUCTION FOR THE PROMENADE WILL START SOON. THE SALES AGENT FORGOT TO MENTION THAT TOLL BROS WAS ALSO THE ONE SUING AGAINST THE PROMENADE TO BE BUILT!!! now is this misrepresentation just to get a sale? is there a law to protect buyers from misinformed information?
10:23 PM on September 18th, 2011
Work harder, get a better Job? I have a decent job, enough to purchase a half million dollar condo a few years back. Being 100K to 150K underwater, I’ve not only lost my 20% down but I’d have to come up with 100k to 150K in addition just to get out of my condo. Not to mention I’d have to come up with 30% down now for jumbo loans to purchase that 800K 4000sf home. How many of us could take that kind of hit and still be able to take advantage of the soft SFR market? As much as we would like to it is basically impossible. Making 6 figures may qualify me for an 800K purchase with 30% down debt ratios wise, but there is the down payment component. My cash is buried under my Dublin Ranch Condo. I’d either have to become a landlord of a Dublin Ranch Condo or simply just walk away to safe 100k to 150k which I am on the hook for with my Condo. That is on top of the 20% I’ve already lost. The prospect of ever breaking even is at least 10 years out. If more condos are dumped into the area on top of what is already planned, we are looking at 20-25 years before buildout.
12:31 AM on September 19th, 2011
20-25 years before build out for condos? Maybe. But that should be the same time frame for the single families on the hills. Let’s just assume the build out time for both condos and single family home are 5 years from now and the market went back to year 2006 level in 5 years. Congratulation, now your condos can be easily sold for 600K and you can make 100k extra from it. Do you think you can afford to buy the single houses on the hill? Those single houses have recovered from 800K back to 1.4M-1.5M.
My point is if you don’t have the extra cash to upgrade now, you will have much harder time to upgrade in a strong market. For those of us with extra cash, we all took the advantage of this downturn and upgraded our houses.
I am never in favor of a strong market. Not only it’s hard to upgrade your house (unless you moved to those cheap states), you have to pay extra tax too. If you only own one house and have no plan to move elsewhere, then it does not do you any good if the home value got doubled.
6:45 PM on October 16th, 2011
Santana Row has multiple floors of condos on top of each retail buildings, that doesnt keep people from going there to eat, shop. Why cant they use the same architecture for Promenade? It doesnt have to be 1-2 floors.
10:53 AM on February 10th, 2012
You should read on what happened to sales of those Santana Row penthouses. That was a big flop. I actually think that apartments and smaller condos for young professionals on top of shops and restaurants make more sense than high-end lofts and penthouses which nobody is going to buy in the middle of nowhere.
11:00 AM on February 10th, 2012
Does anybody know what upcoming meeting with Charter and KB at Cellar will be all about?
5:00 PM on February 12th, 2012
Just want to be clear. Is John Z. saying our Mayor lies?
Actually coming frmo him it is an honor for the Mayor.