The Contra Costa County Board of Supervisors will hold a public hearing Tuesday on a proposed 384-unit residential development on seven acres in unincorporated Bay Point.
Supervisors will decide whether to officially approve a master development agreement between the county and the developer, Pacific West Communities, on county-owned property, located between Highway 4, Bailey Road, East Leland and Ambrose Park.
The project would also include a county-owned library and approximately 11,558 square feet of commercial retail space, built in three phases.
The first phase would involve the county selling 3.3 acres of the property for the development of 150 residential rental units and an approximately 20,000 square-foot library as the first phase of the development, which would involve a $1,796,875 loan to the developer.
The three phases of land has been assessed at $4.6 million.
The county acquired the property as a housing asset acquired using the former Contra Costa County Redevelopment Agency's Low- and Moderate-Income Housing Fund (LMIHF), capital tax increment, and capital tax allocation bonds.
The 7-acre site will be developed under the master development agreement assembled by the former Contra Costa County Redevelopment Agency, of which the county is the housing successor.
The site is within the Pittsburg/Bay Point BART Station Area Specific Plan and designated as a high-density transit-oriented development.
Almost all the units will qualify as either extremely low (38 units at 30% of area median income), very low (38 units at 50%) and low (230 units at 60%) and low (74 units at 80% of area median income).
The Contra Costa County Board of Supervisors meets at 9 a.m. Tuesday (May 24), at the board chambers in the County Administration Building, at 1025 Escobar Street in Martinez. The meeting can be viewed remotely here or at www.contracosta.ca.gov.