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The Contra Costa County Board of Supervisors has approved a proposal for a 384-unit residential development on 7 acres in unincorporated Bay Point.
Supervisors on Tuesday signed off on a master development agreement between the county and the developer, Pacific West Communities, on county-owned property, located between state Highway 4, Bailey Road, East Leland Road and Ambrose Park.
Almost all the units will qualify as either extremely low income with 38 units at 30 percent of area median income, very low with 38 units at 50 percent, or low with 230 units at 60 percent area median income and 74 units at 80 percent.
The project would also include a county-owned library and approximately 11,558 square feet of commercial retail space, built in three phases.
“I know it’s been a long time in the making, but the community awaits it,” said Supervisor Federal Glover, in whose District 5 the development will be built. “Once again, I think the strong tie to the library will be very important to the community.”
The first phase will 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, which involves a $1,796,875 loan to the developer.
The combined project property has an assessed valuation of $4.6 million.
The county acquired the property as a housing asset 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.