Foster City Has 16 Acres to Build Upon and Here’s What to Expect

At the Foster City Council meeting on July 16,  2007, the City Council chose to enter into exclusive, limited-term negotiations with a development team lead by Sares Regis. These negotiations are expected to commence shortly.  This team was one of three that submitted proposals to the City Council for consideration. All three proposals offered up senior housing and some kind of mixed use.  Here’s what’s being proposed by the winner.

Sares Regis has proposed 331 market-rate, age-restricted housing units in a Continuing Care Retirement Community and 65 rental apartments for seniors who meet affordable housing income requirements. Their plan also includes about 31,000 square feet of restaurants and other retail located along Shell Boulevard and wrapped around a central Village Square. The next opportunity for the public to comment will be when the Business Terms for the long-term lease with Sares Regis comes before the City Council for approval in about three (3) months. Once the Business Terms are approved, the actual lease will be prepared and a very public planning process will take another year to complete before any construction begins on the site.

The 16 acres is the last parcel of land in Foster City and once it’s gone the city will be built out.  What I
am curious about is what will happen when it’s built and the annual Art and Wine Festival takes place?  Where will all of the amusement rides go?   Just a thought.