There is demand for more multifamily projects in Fairfield and we look forward to improving and enhancing this wonderful neighborhood,” said Mr. Tallen.
Fairfield, CA (PRWEB) November 23, 2016
Fairfield residents are invited to an open house, Monday, December 5th, to learn about and give their input to a carefully thought out mixed use residential-over-retail-shops community proposed for the vacant, blighted parcel of land located at 1500 Oliver Road. Hosted by property owners Michael and Kathryn Abbassi, Oliver Road Properties LLC; Terrence Tallen, Tallen Capital Partners LLC, development and entitlement advisor, and project architects, Norman Sears and Glenn Wood of San Francisco-based SGPA Architects, the open house takes place at the former big box store at 1500 Oliver Road from 5 to 7 p.m.
The purpose of this proposed mixed use development is to transform the four-acre parcel of land that includes a 44,000 square foot building, vacant nine out of the last 12 years, into an inspiring mixed use destination. In 2010, Michael and Kathryn Abbassi purchased the property. When the building’s tenant, Orchard Supply Hardware, filed bankruptcy and closed the store, the Abbassis were unable to re-lease the building since the neighborhood shopping center could not support a big box store. This resulted in a distressed property badly affecting adjacent businesses and creating safety issues for the neighborhood.
Together with Mr. Tallen, they worked for over a year to create a solution that would complement and beautify the area, provide customers for the existing tenants, and promote synergy in the shopping center. The open house seeks further input from residents in bringing forth a forward-looking project to town and in improving a vacant and blighted area of the community.
"As Northern California residents, we are very sensitive to concerns around new construction," said Kathryn Abbassi. "That's why we've taken this time to create a project that fits in with the community. The main portion of the new building has been located closer to the commerce of Oliver Road, and the project steps down in the direction of Woodcreek Drive in order to harmonize with the residential nature of that neighborhood."
The project sensitively interfaces the commercial side of the street with existing office buildings, some reaching 50 feet, with the Woodcreek neighborhood. On the northwest side the building sits away from Woodcreek, lining up with back of the existing retail shops that include Favella’s, Avalanche Frozen Yoghurt and Mary’s Pizza, while a section of the structure steps down on the east side to a two-story Clubhouse as it approaches Woodcreek Drive.
The amenity-laden building includes 119 one, two and three bedroom apartments perfect for individuals, couples or families; a clubhouse, swimming pool, barbecue area and more. Ample, secure residential parking that exceeds Fairfield’s requirements is located on the north side of the building and is partially tucked under the structure. There is also 15,000 square feet of community- serving retail and office space that will utilize the former Orchard Supply Hardware store’s south side parking field. Residential and retail space will be competitively priced and aimed at attracting residents from the local community as well as local businesses.
“Thanks to input from the surrounding communities, we pledge that the project will not include any drive-through uses. There is demand for more multifamily projects in Fairfield and we look forward to improving and enhancing this wonderful Fairfield neighborhood,” said Mr. Tallen. “This development, if done successfully and carefully, can become a go-to destination for the community. We look forward to receiving more input from the community as to what types of restaurants and neighborhood serving retail they would like to see there.”
Nearby Avalanche Frozen Yogurt owner Pei Wang said, “I support the mixed used development proposal. There have been a couple of high profile tenants but because it's such a big space, it could not support the overhead. If there was residential and businesses in lieu of one major tenant, it'll be self-sustaining and create a great commerce environment for all the surrounding businesses.”
The City’s general plan anticipated this type of development and the Community Commercial Zoning District which encompasses the shopping center, allows residential land use with a Use Permit. Many cities have already taken under-performing commercial sites and have developed them into successful mixed-use projects. With office buildings already present, this gives people the opportunity to live here and walk to work.
The parcel is bounded by dozens of mature Redwood trees, which will be carefully preserved as part of the redevelopment. Construction schedules will be created in conjunction with the surrounding neighbors and businesses to minimize its impact. A recently concluded transportation impact analysis report shows reduced traffic over its previous use, reduced public parking demand and no significant transportation impacts.
About the developers:
Michael and Kathryn Abbassi have been partners in business and life since their college days at University of California, Berkeley, where they completed an MBA and a Ph.D. in Economics respectively. They have accomplished custom high-end home developments in Lafayette, California and Reno, Nevada. They own and manage a commercial furniture dealership in San Francisco, retail and office buildings in Sausalito, San Rafael, Walnut Creek and San Bruno, California.
Mr. Tallen is a 30 year veteran in retail real estate development and investment industry and one of the San Francisco Bay Area’s leading retail investors and developers. A representative sampling of Mr. Tallen’s projects include: Napa Tahoe Crossings, the 649 Beck Avenue retail project located in Fairfield, as well as the Rossmoor Shopping Center in Walnut Creek.