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Committee advances 70‑year commercial ground lease at 735 Davis to create community‑serving retail space
Summary
The committee recommended a long‑term commercial ground lease of City‑owned commercial parcel at 735 Davis Street to Davis Retail Associates LLC for a $1 annual rent, to be developed as ~1,200 sq ft community‑serving retail space with a warm‑shell buildout funded by the sponsor.
The Budget and Finance Committee on Sept. 25 recommended the Board authorize a commercial ground lease for a 1,240 square‑foot parcel at 735 Davis Street to Davis Retail Associates LLC (a project sponsor group including John Stewart Company and Bridge Housing) for a 70‑year ground lease with a 24‑year option to extend, and an annual base rent of $1.
Sarah Emerald of the Mayor's Office of Housing and Community Development said the sponsor will complete a warm‑shell buildout (restrooms and basic fit‑out) to reduce barriers for small business tenants and will coordinate with the Office of Small Business to market the space to community‑serving tenants. The commercial parcel separation builds on prior committee approvals for the adjacent residential affordable housing project.
Committee members asked about likely tenant types; MOHCD said the space could host a community‑serving restaurant or small business that provides discounted food or services to residents of the adjacent affordable housing developments. The committee moved the item to the full Board with a positive recommendation and no public speakers were recorded at committee.
