Truckee development: Coldstream project’s economics to be studied, public meetings on tap
TRUCKEE, Calif. and#8212; Public meetings will pick up again this summer on the proposed Coldstream development project that could reconnect Deerfield Drive and bring in more business to the area.
The development and#8212; dubbed Planned Community One and#8212; could bring 345 residential units and 70,000 square feet of commercial space to 178 acres owned by Teichert Aggregates near the east end of Donner Memorial State Park.
Currently, the project is under environmental review, analyzing, among other things, the reconnection of Deerfield Drive, stream restoration in Cold Creek and the idea of bringing the Legacy Trail to Donner Lake. As of last month, an Economic Impact Analysis was approved by town council, to see how the potential 70,000 square feet of commercial will fit in with the rest of the townand#8217;s businesses.
and#8220;Before we finalize the environmental review, we wanted an economic analysis to see, what is the commercial component, or should it be at all?and#8221; said Community Development Director John McLaughlin. and#8220;Alternatives to consider are downsizing the commercial area, even down to zero.and#8221;
By figuring out what commercial use is appropriate for the site, McLaughlin said planners wonand#8217;t and#8220;put the cart before the horse,and#8221; creating competition with already struggling businesses in town.
Mike Isle with Teichert said the analysis will provide a and#8220;snapshotand#8221; of economic conditions, allowing Teichert to fine-tune the project, which he said will have long-term benefits to Truckee.
and#8220;We think itand#8217;s a great project with variable land uses that will withstand different economic climates,and#8221; Isle said.
The analysis, required by the town, will be paid for by the developer, with a budget not to exceed $45,800, and a contingency of $4,580, according to staff reports. The contract was awarded to AECOM Economics.
As planning continues on the Coldstream development, McLaughlin said the town will hold a number of public workshops to solicit input on the economic analysis and get the community back up to speed on the project as a whole.
and#8220;Weand#8217;ll look at what issues there may or may not be with Donner Memorial State Park, public benefits of the project like trails and#8212; weand#8217;ll probably do that in July,and#8221; McLaughlin said.
The economic analysis would probably be wrapped up in the fall, followed by public workshops on the analysis and environmental review documents, McLaughlin said.
Isle estimated the review of the project will stretch into 2011, and in the current economic climate, Teichert has no firm goal as to when construction could start, if approved.
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