Economic & Planning Systems
San Lorenzo Village Square Redevelopment
San Lorenzo, CA
Strategically located off Interstate 880, the San Lorenzo Village Square project area had been the focus of several unsuccessful planning efforts since the departure of its anchor tenant, Mervyn's, to a nearby mall. The area consisted of multiple vacant and poorly performing properties located on both sides of a heavily traveled commercial corridor, including a Lucky Supermarket-anchored center, an unused parking lot, and a dilapidated 100,000 square-foot retail building. Both the owner (a family-held commercial development and property management company) and the Alameda County Redevelopment Agency (RDA) sought to reposition the properties and restore the area to its original function as a successful commercial district serving San Lorenzo and neighboring communities (e.g., San Leandro and Hayward).
EPS and an urban design firm were retained by the primary owner of the San Lorenzo Village Square properties to take a fresh look at market and financial conditions affecting development feasibility and formulate a comprehensive land use plan for the entire area. The EPS team collaborated to design and evaluate various mixed-use development concepts consistent with the financial and revitalization goals of both the County and property owner. One of the key concepts evaluated was the relocation of Lucky Supermarket within the project area to jump-start redevelopment on the west side of the street while freeing up a site with better freeway visibility for regionally oriented, commercial big-box tenants. EPS developed a cash-flow model to assess the financial performance of the plan, including the need for/benefit of assistance from the County to create a more innovative and amenitized town center concept.
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