North Bay Business Journal — http://www.northbaybusinessjournal.com
Residential Real Estate: Revised Napa Pipe plan cuts 54% of homes
Eric Gneckow, Business Journal Staff Reporter
Monday, September 24, 2012, 5:05 am
Categories: Columnists, Industry News, Napa Report, Napa Report 3rd-level stories, North Bay News, Residential Real Estate | No Comments
The county of Napa has released a series of documents, posted at countyofnapa.org, describing a revised proposal for the 154-acre Napa Pipe residential and commercial development, allowing time for public review prior to a planned hearing before the county’s Planning Commission in October.
The revised proposal describes a maximum of 945 dwellings, down from the 2,050 that Napa Redevelopment Partners presented to the Planning Commission in May.
The new proposal is divided into two properties in unincorporated Napa County, 63 acres along Napa River and west of the nearby railroad tracks and 91 acres east of the tracks.
On the west side, the revision seeks rezoning to allow 700 to nearly 1,000 homes, a 150-unit continuing care retirement center, a 150-room hotel and more than 15,000 square feet of community facilities. Office use has been cut to 10,000 square feet from 100,000 square feet.
On the eastern property, the developer propose zoning to allow for a 154,000-square-foot Costco Wholesale store, including a gas station, reservation of a 10-acre site for a future school, five-acre community garden, a limit of 90,000 square feet of office space and a reduced 75,000 square feet of warehouse space.
Both properties include provisions for privately maintained roads and publicly accessible parks and open space.
The revised proposal is set for a hearing at 1 p.m. Oct. 3 at the Copia theater, 500 First St. in Napa.
Marin Association of Realtors released a new, mobile version of its Housing Turnover Index (marinhousingturnoverindex.com), an interactive website designed to illustrate how certain mandated repairs are discouraging home sales and slowing the turnover of Marin County housing stock.
Repairs of particular concern are “sewer laterals,” privately owned pipes that connect a residence to a public sewer. While a broad consensus exists that aging laterals are frequently in need of repair or replacement, the association has spent nearly a decade arguing that mandates requiring inspection and possible repair as part of the home-selling process are less effective than grants and low-interest financing.
Five Marin wastewater districts have begun offering low-interest loans to help residents repair the aging and leaky pipes. Those costs can exceed $12,000 in some cases, and demand for grants remains high.
A bill for further options for financing through wastewater districts, Assembly Bill 741 by Jared Huffman, passed late last year. [Read more: busjrnl.com/61641]
Link to article: http://www.northbaybusinessjournal.com/61526/residential-real-estate-column-for-september-24-2012/
© 1988–2015 North Bay Business Journal. Copyright policy: http://www.northbaybusinessjournal.com/contact/copyright-policy/.