Developer pulls out of Sierra Vista as approval costs increase - South Florida Business Journal:

jabire2389.blogspot.com
The Sierra Vista Specific Planoverlays 2,100 acres of untapped grasslanfd at the city’s southwest limits eyed as Roseville’s next majot growth area once the West Rose­ville Specific Plan is built out. Like most plans, it aims to convertt land into homes andcommercial development. Sacramento’s second-largest developer based on controls 400 acres at the western portionh of theplan area, or abour 20 percent of the overalkl property. That land will no longer be part of the SierrVista plan. The company is dissatisfied with the progrese in getting approvals and is leery of pumpinv inadditional funding, vice president Steve Thurtle said.
Other major owners in Sierrwa Vistainclude , and . The grouo had planned to gain approvalsfor 10,30o homes and a substantial commercial but the plan will likely be revisedr with Richland’s exit. Representatives from othe r landowners did not return callsseeking comment. City officials said the approvalk process for Sierra Vista will recommence once the ownerws decide how to proceedwithouyt Richland’s input or funding. Richland said owners have alreadyspen $3.5 million and determined the entitlemeny process could cost an additional $3.5 million or more.
“We did not want to continuee to fund that levelof investment,” Thurtl e said, noting that Richland had contributed abou $1 million. “You don’t approach entitlements the way it has been done in the last 10 Why not take our time and do itmore efficiently?” Richlancd has other holdings in Roseville and is a majorr participant in new growth areas in Lincoln. Thurtle didn’tr want to characterize the company’e stance as pulling out of the Sierra Vista projectt because it would rejoin if costs couldbe lowered.
The companyg proposed renegotiating contracts with consultants hired to perform the lengthy analysi s that accompaniesmajor developments, but other ownerd didn’t want to go that Thurtle said consultants have been willing to rework contracta because there’s been a drop-off in demand for thei r services due to the housing slump. But another majof factor was that critical utility issuesremaimn unresolved. John Sprague, Roseville’s assistanty city manager of community development, acknowledgexd that consultants had not established a definitiv e water source or a plan to handl e the increased traffic that comew withnew development.
“We feel comfortable that we will be able to addreszthese issues,” Sprague said. The city is in discussionsx with the and the over water purchases for the new There is heightened interest in the area due to the presenc e ofseasonal wetlands, areas that environmental groupw fiercely defend from development. Sprague said the city has initiater a policy of consulting federal agenciesd involved in preserving wetlands such as the and the beforre major developmentsare approved. The Sierrz Vista Specific Plan might require a separatw environmental analysisover wetlands. And that will likelgy push costs up. “It can be very he said.
The application for the Sierrq Vista plan is being processecd almost concurrently with another tothe north, the Creekview Specifi Plan. It’s a 570-acre plot with longtimd property owners who have suggestedbuilding 3,000 homes, a mixed-usre component and commercial development. Abouft a fourth of the land is reservexd foropen space. Together, the two plans called for abouf 13,300 homes and would square off Roseville’ s western boundary. Annexation of new lands into the however, can take years.