REPORT TO COUNCIL
SUBJECT
Title
Action on the Sale of City Property consisting of Portions of Fremont Street and Sherman Street at 575 Benton Street and a Resolution Ordering the Vacation of Said Public Right-of-Way with the Reservation of a Public Utility Easement (Not to be Heard prior to 7:00 PM)
Report
BACKGROUND
On July 17, 2018, Prometheus Real Estate Group received City approvals to rezone and redevelop the property at 575 Benton Street and the surrounding properties. The City Council approved a rezoning, vesting Tentative Parcel Map, and Development Agreement. The project is located on the blocks north of Benton Street between The Alameda and the El Camino Real (Attachment 1) and is a residential/mixed use development comprised of 355 apartment units, approximately 22,073 square feet of retail space, 2,080 square feet of commercial space, a parking garage, 1,601 square feet of leasing office space, a pet spa area, bike amenity space and a roof deck with a 4,341 square-foot club room/fitness center. As part of the Council Approved Development Agreement, the City agreed to sell portions of Fremont Street and Sherman Street that are being incorporated as part of the project.
The project includes the vacation of portions of Fremont Street and Sherman Street as these areas are proposed to be incorporated into the overall site plan. The site plan shows the construction of a portion of the new buildings and private courtyard over these streets (Attachment 1). Staff reviewed this proposal and did not find any concerns with the proposed vacation of the portions of Fremont Street and Sherman Street as these streets primarily serve the project site, and tentatively agreed to the proposal contingent upon approval of the street vacation by the City Council. Additionally, on June 13, 2018, the Planning Commission found that the proposed vacation of portions of Fremont Street and Sherman Street is consistent with the General Plan. Of note, is that the City o...
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