Saturday, December 16, 2006

Suisun City eyes developer for vacant land off Highway 12

Excerpted from Daily Republic (Subscription required)
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By Ian Thompson
- Vacant land next to the Sunset Shopping Center could finally get businesses built on it if the Suisun City Redevelopment Agency agrees to exclusive negotiations with two interested developers.

The Redevelopment Agency wants to cut a deal with Silverwing Development of Concord and Truestreet Properties of Florida to develop the 8.29-acre site just north of Highway 12.

Silverwing and Truestreet propose to build 32,000-square-feet of specialty retail buildings on the site as well as put in two building pads that could eventually take a restaurant and a bank.

The two developers also want to put up a 120-room hotel, an idea that comes a couple of months after the city Redevelopment Agency showed the City Council plans with a hotel developer interested in building a hotel next to the waterfront.

Monte Vista Equities, the developer not backed by Suisun City planners, had proposed to build 33,150 square feet of office and retail space along with 100 units of senior housing which would take advantage of the proximity city's senior center a block away.

While planners liked both proposals, they went with Silverwing and Truestreet because "they had superior resources" and "extensive existing relationships with prospective retailers," according to a memo to the council from Suisun City Project Manager Jason Garben.

While Silverwing is expected to design and build the project, Truestreet will provide most of the funding and would market the project, the memo stated.

This is one of the sites targeted for development early this year after the Suisun City Council undertook a study of its vacant commercial sites to find out how best get more businesses built in town.

Bringing in more businesses and increasing the city's sales tax revenue to bolster a tight city budget is a top priority for city hall.

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