Carmel, CA Marina Senior Affordable Housing Development, Cypress Point, Delayed Again:by Richard Kuehn on 05/27/11
The City of Marina, once again, delayed making a decision which would allow developers to go forward with a $200 million senior residential community which has been on the drawing board since 2009. The city solicited project proposals in October of 2009 and received two plans in March of 2010, but suddenly halted the process when former city council member Dave McCall accused Vince DiMaggio, a principal with Peninsula Housing Partners, of offering him a $10,000 bribe for his vote. After DiMaggio announced in April that he was resigning from Peninsula Housing Partners, the city council voted 3-2 to allow the company to remain in the running, along with Coastal Rim Properties, for development of a 772-home senior community on 190 acres of city-owned Fort Ord land. However, after the City Council spent four hours debating the two proposals May 25, they adjourned without making a decision and put off any decision making until June 7. The Cypress Point project faces a tough road ahead if delays continue as both of the companies are relying on the use of redevelopment tax dollars in part to fund the project. Governor Jerry Brown has proposed eliminating all funding for redevelopment agencies and, under questioning, Coastal Rim Properties project manager Miguel Vasquez said that eliminating the redevelopment agency funds would make it impossible for Coastal Rim to move forward on the project. A representative from Peninsula Housing Partners said it might be possible to find other sources of financing. Once the council picks a development team, it's expected to take six months to go through the land-use approval process and negotiate a formal development agreement. It's a shame the project remains in a state of limbo given the growing population of seniors on the Monterey Peninsula which could use affordable housing.