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District staff: purchase-and-sale agreement signed for Alphalander property at $7.925 million
Summary
District staff told the Long Range Planning committee the board-authorized purchase-and-sale agreement with Venture Properties for the Alphalander property is signed; staff expect closing as late as May 2027 and said the buyer will proceed through the city's land-use process.
The Long Range Planning and Bond Oversight Committee heard that the district has signed a purchase-and-sale agreement with Venture Properties for the Alphalander property for $7,925,000. Remo Douglas, the district's capital construction program manager, said the agreement was signed last week and "that starts the clock for the sale," with the buyer having a defined timeframe to close; staff expect closing "sometime in 2027," and no board vote on the transaction was taken at the committee meeting.
Douglas said the property is zoned residential under city code and the buyer will need to pursue the usual land-use approvals with the city. He told the committee the district's role is limited to acknowledging property ownership and confirming the buyer's intent; the district does not control the city's rezone or land-use outcome. The committee asked questions about rezoning and local review; Douglas confirmed the buyer had held a pre-application meeting with city planners and that the district expects to see permit activity "in the coming weeks and months."
