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Council approves project development agreement for ‘Canopy’ retail at Great Park
Summary
Council authorized the city manager to finalize a project development agreement and lease framework with Almquist/Elmquest for the 10‑acre Phase 2 canopy retail project adjacent to the Great Park; deal includes a city bond to prepare pads and a 30‑year lease structure.
The City Council approved a project development agreement (PDA) with Almquist Development (the developer selected earlier as Elmquest in RFQ process) to deliver the second‑phase “Canopy” retail project adjacent to the Great Park. The vote was 6-0.
Why it matters: The project aims to provide neighborhood‑serving retail, a grocery anchor, food-and‑beverage offerings and public open space directly adjacent to the Great Park, with the city preparing pads and shared infrastructure to encourage private investment.
Project overview: Assistant City Manager Pete Carmichael and Great Park staff described a two‑phase project.…
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