City Manager News ReleaseCity of San Carlos
City Manager's Office

City Hall
600 Elm Street
Phone: (650) 802-4228
Fax: (650) 595-6729

6/11/2014

FOR IMMEDIATE RELEASE
PRESS RELEASE #06112014
Subject :

Wheeler Plaza Development Gets the Green Light from the State
Contact :Jeff Maltbie, City Manager, City Manager    (650) 802-4228
    jmaltbie@cityofsancarlos.org
SAN CARLOS, CA, June 11, 2014 – In a letter dated June 9, 2014, the State Department of Finance notified the City of San Carlos of its approval of the City's Wheeler Plaza Project. The Wheeler Plaza project includes: 108 housing units with dedicated parking; 9,855 square feet for retail use; and 237 public parking spaces in a new two-level downtown parking garage that will increase by 50 the number of public parking spaces in the downtown.  Wheeler Plaza is located on the block bounded by Laurel Street, San Carlos Avenue, Walnut Street and Cherry Street.

The Department of Finance required that the City enter into Compensation Agreements with  the 15 taxing entities in San Mateo County (including the San Carlos School District, Mid-Peninsula Open Space District, Sequoia Hospital, etc.) that have an interest in the property.  All of the agencies agreed to sell the property for $1 to the developer, Silverstone Communities, recognizing the long term financial, economic and community benefits of the project.  Department of Finance approval of the sale of the property for $1 was essential to moving  forward and allowing the City Council to begin considering the details of the project.

City Manager Jeff Maltbie is pleased with the Department of Finance decision. Maltbie said, "I am very proud and encouraged that the City Council, City staff and the community all continue to see the potential of a development in the downtown, given the enormity of obstacles created by the dissolution of redevelopment agencies throughout California.  This project is the right location and has the right amenities for San Carlos, providing parking, housing, Class A retail space and public gathering space."

Mayor Mark Olbert added, “Wheeler Plaza will bring over 50 new public parking spaces to north Laurel Street as well as Class A retail space and condos for those who want to live in the midst of our fabulous downtown. I appreciate the confidence our sister public agencies have placed in our vision for an enhanced downtown by their support of the project.” 

Silverstone Communities was selected as the development partner for this project in 2009 and the Environmental Impact Report and Development Agreement have already been approved by the City Council.  Next steps for the project include preparation of final design by Silverstone and the planning and building permit process.



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