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High praise for The Plaza
February 20, 2013, 05:00 AM By Bill Silverfarb Daily Journal

The Plaza in Foster City, a new mini-neighborhood at Pilgrim and Triton drives, is set to have its grand opening later this month and some city officials like the project so much they say it will set a new standard for future developments in the city. With not much "dirt” left to develop in Foster City and the loss of its Redevelopment Agency, the project represents one of the last the city will support financially to build affordable housing in the city. "They have spared no expense. It is absolutely gorgeous,” Mayor Pam Frisella told the Daily Journal yesterday. Frisella is impressed by the project. She said it could influence what her expectations are for Foster City’s last major vacant piece of land, the 15-acre site adjacent to City Hall that is set for a mixed-use development. "They have set the bar high with the construction and amenities. I’m really impressed,” Frisella said about the Sares-Regis project. The Plaza, the first phase of a larger project, features more than 300 multi-family residential apartment units, some live-work units, 17,000 square feet of commercial space and a parking garage on six acres of the property. An acre of the property is committed to a plaza. The Phase A development agreement calls for a park fee payment of $4 million plus construction, maintenance and dedication of public access easement for a .69-acre plaza. The deal calls for five moderate, 40 low- and 15 very-low-income affordable units. "It’s one of the last dying breaths of RDA,” Councilman Art Kiesel told the Daily Journal about the city’s effort to support affordable housing. "We’re out of dirt.” The project, Kiesel said, will "put a good face on the city.” It will also generate more property tax revenue for Foster City, he said. The Plaza is a four- and five-story complex surrounding a five-story parking garage where residents will park on the same level as their apartment. There is a limited retail component on the ground floor adjacent to the leasing center. The planning for the Pilgrim-Triton master plan has been in the works for more than six years and ultimately will include a total of more than 700 residential units along with almost 300,000 square feet of commercial office space. The project took three separate property owners to join together to turn the industrial area into a residential community, said Vice Mayor Charlie Bronitsky, who expressed pleasure with the affordable-housing aspect of the project. Councilman Herb Perez praised former members of the council for helping to bring the project to fruition. "I believe it will serve out community well,” Perez said about the project. The fourth phase of the project, called Triton Pointe, is seeking approvals from the city now. It will include 43,000 square feet of office/commercial space with 166 multi-family residential units and 5,000 square feet of retail. (650) 344-5200 ext. 106



Tags: project, plaza, units, residential,

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