Oversight board clears transfer of Riverside parcel for 33-unit project with five affordable units

The Countywide Oversight Board unanimously approved the transfer of a 0.945-acre vacant parcel in the City of Riverside to developer R.C. Hobbs for $560,000, a city representative said.

Ben Morales, Real Property Services Manager representing the City of Riverside successor agency, described the parcel at the southeast corner of the 5 Points intersection and presented a developer proposal for 33 residential units with a 15% affordable-housing requirement that would reserve five units for low-income qualified households. “Purchase price for this project is $560,000… The proposed project consists of 33 units with 15% affordability which will set aside 5 units as affordable housing for those low income qualified households,” Morales said.

Morales reviewed the outreach and procurement history: a notice of availability was issued June 16, 2023, respondents were received in August 2023, prior negotiations faltered for feasibility reasons, and a May 20, 2024 request for proposals produced the current qualified proposal from R.C. Hobbs. Morales said the parcel was acquired previously to address blight.

On environmental review, Morales said the city studied the project and staff cited a CEQA exemption (transcript reference: CEQA Section 15061). A successor-agency representative clarified that the board’s approval of the transfer is contingent on the city and developer completing CEQA as required for the project.

A board member asked about chain-of-title and earlier starts and stops on the project; Morales said due diligence had been performed and that an earlier developer had not performed under AB 1486 requirements, prompting the agency to pull the prior contract. A motion to approve the transfer carried on a unanimous roll call vote among members present.

The board recorded the item as passing unanimously.