01-18-2005 - Update on Quail Ridge Shopping Center RenovationCity of West Covina
Memorandum
TO: Andrew G. Pasmant, City Manager AGENDA
and City Council ITEM NO. I-4
FROM: Douglas N. McIsaac, Planning Director DATE January 18, 2005
SUBJECT: UPDATE ON QUAIL RIDGE SHOPPING CENTER RENOVATION
RECOMMENDATION:
Staff recommends that the City Council receive and,file this report.
DISCUSSION:
On January 4, 2005, Councilmember Hernandez requested an update report on the status of
the proposed renovation of the Quail Ridge shopping center located at the northeast corner
of Nogales Street and La Puente Road.
On November 9, 2004, the Planning Commission granted a three-month extension of the
project entitlements until February 9, 2005. At that time, Douglas Jacobsen of Realty
Bancorp Equities, the project. developer, presented a letter from the Albertsons Corporation
indicating that they were optimistic that formal conclusion could be reached on a business
transaction within the next two months (copy attached). According to Mr. Jacobsen, the
approval from Albertsons (parent company of Sav On Drugs) to proceed with the
construction of a new building for Sav On was the cause of the delay to that point and the
remaining issue that needed to be resolved in order to proceed with the project.
At this time, according to Mr. Jacobsen, corporate approval from Albertsons has "been
obtained. Final completion of the paper work is expected soon, and Realty Bancorp is
hopeful that this can be accomplished and grading permits for the project can be issued
prior to the current expiration of the project entitlements on February 9. According to the
construction manager for the project, once permits are issued, the first step would be the
demolition of the former Sizzler restaurant and bank building on the property. This will
take approximately three weeks to complete.
Prepared7., Douglas N. McIsaac
Planning Director
Attachment: Letter from Albertsons dated November 8, 2004
Z:\City Council\SFRPTSDM\Quail Ridge Update. 1. 1 8.05.doc
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November, 8, 2004
ALbLHISONS SAVGN
Mr. Douglas Jacobsen
Director of Development
Realty Bancorp Equities
21800 Burbank Boulevard
Suite 330
Woodland Hills, CA 91367
l,Jo.0800 P 2
,Y ATTACHMENT 1
Albensons•
Via Fax (818) 251-9912
RE: Proposed Sav-on Drug Store
Quail Ridge Shopping Center; 3620-3670 South Nogales Street, West Covina
Conditional Use Permit 01-10 & 01-12
Dear Mr. Jacobsen:
I understand that the City Council has graciously extended your Conditional Use Permit
(Conditional Use Permit 01-10 & 01-12) for our proposed West Covina project on a number of
occasions. I am hopeful that your request for an extension from the Planning Commission at
Tuesday night's meeting will be successful, Although 1 have not yet received a formal approval
from the Albcrtsons/Sav-on senior management, I amp optimistic that within the next 2 months,
Albertson's will be in a position to officially indicate its willingness to proceed with our
transaction. Our commitment to you, and to the City of West Covina, is very important to us.
Your willingness to work with us over the past 11 months to find an acceptable solution has been
much appreciated by Albensons.
Thank: you for your continued support of this project.
Sincerely,
Michael Reed
Real Estate Manager
C.:\TEMP\Temporary lUtemet Fi1Lq%01.K4\savo11 - West Covina Later.doc
ALBERTSON'S, INC, / 1421 SOUTH MANHATTAN AVENUE / FULLERTON. CALIFORNIA 92831-5221