Developer outlines Site 17 ground lease and phased housing plan; council to consider on Monday

Jeff McVeigh, joined by Jimmy Ciracchio, presented draft ground-lease and development-agreement documents for Site 17 and said the team finalized negotiations earlier in the week. He described the agreements as draft documents that will be completed in full and inserted for all phases prior to council consideration.

"The first phase will be 140 for sale townhome units," McVeigh said. "They must commence construction by 2027." He said Phase 2 would add about 225 residential units and Phase 3 would bring the project to roughly 425 residential units in total. McVeigh said the project anticipates 25,000 to 50,000 square feet of commercial space and a comparable amount of residential amenity space, and that the developer plans to include significant green space with public-access agreements.

When asked who will maintain the open space, a project representative said, "That will be Cul de Sac's responsibility to maintain." Councilmember Adams asked whether the city had made substantial concessions during late negotiations; McVeigh characterized the recent changes as "dotting I's and crossing T's," with substantive business terms remaining consistent with previously presented materials.

City staff and the developer said finalized documents will be ready for the council meeting; councilmembers asked clarifying questions about timing and material terms. No formal council action was recorded in the study session; the council is scheduled to consider the ground lease at the upcoming Monday meeting.