The developers and the City of Scotts Valley’s vision is to build a $180 million Town Center fronting on Mount Hermon Road. The sale of the property owned by the city of Santa Cruz, is crucial to bring the project to realization and was appraised at $8.3 million last year and will be sold “as is” meaning the buyer would be responsible for any cleanup.
The 8.15 acres are between the U.S. Postal Service and where Scotts Valley developer Corbett Wright is to build both a Starbucks with a drive through and a brewpub restaurant called “The Hangar.” The city of Scotts Valley sold Wright the 1.5 acres for $520,000 after incurring expenses for soil remediation, building demolition and decommissioning a well.
The original 2008 Town Center plan covered 58 acres with 300 housing units, parking for 1,475 cars, a town green and an what is now agreed as an overly ambitions 310,000 square feet of retail given changing shopping habits in the 10 years since then.
The council has now given the developer 120 days to produce a site plan showing demolition and construction, types of uses, proposed square footage, ingress and egress for people on foot and in cars, potential tenants and financial projections.
Town Center is becoming reality!