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Oversight Board approves transfer of 1.86-acre Riverside site for 64-unit development
Summary
The Countywide Oversight Board approved a resolution to transfer 1.86 acres of successor-agency land in the City of Riverside to a developer for a proposed 64-unit mixed-use project that would include 10 affordable units; staff said the disposition is CEQA-exempt at this stage.
The Countywide Oversight Board on Jan. 15 approved a resolution authorizing the transfer of 1.86 acres of successor-agency land in the City of Riverside for a proposed mixed-use development. The staff presentation said the purchase price is $1,050,000 and the project would include 64 housing units, 10 of them set aside as affordable housing.
Benjamin (Ben) Morales, the successor agency's real property services manager, told the board the site (reported in the meeting materials and transcript as "27312871 University Avenue") was the subject of a competitive process in which five proposals were received and Grapevine Development LLC was selected. "The proposed project consists of 64 units with a 15% affordable housing component, identifying and allocating 10 units for affordable housing," Morales said.
Morales said staff released a notice and request for proposals in 2020–2021 and recommended the transfer under the successor agency's long-range property management plan. He also said the Department of Housing and Community Development notified the successor agency that the disposition complied with AB 1486 for this site and that, at the property-disposition stage, staff concluded CEQA does not require further analysis; Morales noted CEQA review would occur when a construction project is filed.
Board members asked whether the transfer maximized value and whether the project would help the city's RHNA obligations. Morales said the project would contribute toward RHNA credits for the City of Riverside and that staff believed the sale price reflected the site's development constraints and zoning.
Chair moved approval of the resolution and the board approved the item by unanimous roll call.
The board approved "Resolution No. 2026-020" as presented in the staff packet; the record shows unanimous votes by Chuck Washington, Aaron Brown, Russ Martin and Dr. Topher Taylor. Meeting materials should be consulted for the staff report and project exhibits, and for the exact street number and parcel references (the transcript text lists the address as "27312871 University Avenue," which appears garbled in the transcript).
