PIEDMONT, CA-At the recommendation of a locally-based developer, city council members have asked city administrator Geoff Grote to check into the cost of purchasing the PG&E substation on Linda Avenue. Developer Patrick Kennedy told the city council recently he would like to see city officials to obtain the 17,000-sf site and convert it into a variety of housing units.

Kennedy stressed the need for affordable housing in Piedmont, a small community completely surrounded by Oakland. Teachers with the Piedmont Unified School District have been hit hardest in the pocketbook, says Kennedy, and as a result, many have left their district jobs and the area altogether in search of cheaper rents. Kennedy says the housing units would consist of a variety of housing units, including market-rate and moderate- to low-cost units.

But city council members say they are concerned the city may not have the necessary funds to finance the property. Kennedy suggested that while Grote gets the purchase price from PG&E, the city should put together request for proposals to develop the project.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.