The future of a large mixed-used project that was initiated more than 15 years ago to anchor the development of the San Leandro shoreline is now uncertain.
The 75-acre Monarch Bay project, a partnership between Los Angeles-based developer Cal-Coast Companies and the city of San Leandro, included plans for 500 residential units, a 210-key hotel, a restaurant, a public library and park space.
Cal-Coast has been served a notice of default on a $24.8M loan from the city that is tied to a 15.9-acre portion of the site where 206 homes were planned, according to a report in SiliconValley.com.
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