Purchase, Sale and Development Agreement with Pelican Communities, LLC., for total sale price of $200, in lieu of receiving total value of the land of $1.83 million, the City will receive 60 dedicated parking stalls to support the Main Library at an estimated cost of $3.12 million, and title, escrow, and miscellaneous related closing costs for total not-to-exceed $10,000 shall be deducted from the $54,900 deposit, for City-owned vacant land, formerly known as the Downtown Terminal Property, for development of mixed-use student housing project at 3911 University Avenue and 3775 Fairmount Boulevard, identified as Assessor’s Parcel Numbers 214-252-019 and 213-261-029 (Community and Economic Development) (Ward 1) (10-minute presentation)

What this record is

Held by

Pelican Communities, LLC 4 records across this site

Amount

$1.83M

Runs until

no end date published in this record

Type

purchase

Field

Real estate

Read automatically from the title of the official record. The source document below is authoritative.

Pelican Communities, LLC also holds

Approve revised Schedule of Performance within Agreement with Pelican Communities, LLC, for sale and development of City-owned vacant land, formerly k… Riverside, CA Purchase, Sale and Development Agreement with Pelican Communities, LLC., for sale price of $200 for City-owned vacant land formerly known as the Downt… $200 Riverside, CA Purchase, Sale and Development Agreement with Pelican Communities, LLC., for $920,000 minus related title, escrow, and miscellaneous closing costs, no… $6K Riverside, CA

Committee

City Council

Requested by

Community Development

Introduced

February 29, 2024

On agenda

March 19, 2024

Where it was heard

City Council Mar 19, 2024 City Council Mar 19, 2024