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The Sacramento County Planning Commission considers plans for Murieta Gardens, a residential and commercial development project, at its meeting 5:30 p.m. Monday at the County Administration Building, 700 H St., Sacramento.

The project is proposed for 53 acres of land across from Murieta Plaza. The plan calls for a mini-storage facility, a retail center, offices and 95 single-family homes. The commission will make a recommendation to the county Board of Supervisors, which has the final say.

The meeting agenda is here. Planning documents for the project are available here.  

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Candy Chand's picture
Joined: 08/15/2007
Posts: 304
Post rating: 811

Going through the motions

It's my strong belief, this hearing, as the one that will soon follow, is little more than the developer going through the motions. They WILL get their approvals--no doubt. But few (in development circles) believe they will construct the proposed project. As of their last notification, the project has no store and no housing developer.

They also need to fund a 12-14 million dollar water plant (and wait for it to be constructed) before they can pull a single building permit. So far, this (and the other long-gone developers) haven't paid for that water plant project.
 
In addition, as has been reported multiple times, they are no longer in CSD negotiations due to legal fee disputes.

In 2004, the Murieta Gardens developer claimed (in the Biz journal)  they needed approximately 1,400 additional new homes before their project could break ground. They thought that would happen by 05 to 06. It's now 2010, and  there are zero new houses. And many in the business believe, those houses won't move forward. (at least not on that level) Again, most of the approved development projects (both north and south) in Murieta are, now, in bankruptcy, with no buyers interested in acquiring the maps.

Why, then, some may wonder, would the Gardens developer continue the hearing process? Map approvals for developers are crucial to raising land values. Having the project look good on paper is a common phenomenon, but building is an entirely different matter.

The bottom line is, I'll attend the hearing, but I'm not sweating the outcome. I'm relatively certain they'll get approved, but, I'm convinced, building the project, as proposed, is simply not on the horizon.

On that note, just last week, a well-established local realtor told me, "Anyone who's ever taken a high school economics class knows the project just isn't viable."
 
Candy Chand
955 2027
 

Candy Chand's picture
Joined: 08/15/2007
Posts: 304
Post rating: 811

Going through the motions

In honor of the occasion, :)  I love the following quote:

"We should all be obliged to appear before a board every five years to justify our existence--on pain of liquidation.”
 George Bernard Shaw

 As for tonight's small hearing, here's to you, George.  :)
Candy Chand
 

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