As part of a public/private partnership, the City of San Leandro and Cal Coast Companies LLC proposed redevelopment of the approximately 52-acre City-owned Shoreline Recreational Area plus a water surface area of approximately 23 acres. The City-owned site is anticipated to be conveyed to Cal Coast Companies LLC by means of a long-term ground lease. The Shoreline Project includes restoration of a natural shoreline along the interior of the harbor basin, refurbishment of existing public restrooms, and an aeration fountain in the harbor basin to aid in water circulation.
The Project also includes:
- 200 hotel keys
- 285 apartments
- 3 restaurants (2 new restaurants)
- Aquatic center/dock; small boat launch and kayak storage
- Outdoor recreational areas, including: picnic areas, a perched beach, bocce ball courts, pedestrian piers, two miles of public promenade including lookout piers and a pedestrian/bicycle bridge
- Site for 200 homes on a site created by the reconstruction of the 9 hole Executive Golf Course
The Shoreline Enterprise Fund provides the funding for the day-to-day operation and maintenance of the San Leandro Marina, the Monarch Bay Golf Course and the rest of the infrastructure in the San Leandro Recreational Area. The Shoreline Enterprise Fund has an outstanding City General Fund loan and a Department of Boating and Waterways loan that must be repaid from the Enterprise Fund revenues in addition to any new obligations as a result of the Project. The findings of KMA’s analysis will be used to inform the City and to assist in forming the basis of a financing plan for constructing and maintaining public infrastructure.
KMA’s role included:
- Advising City staff on the business terms of long term ground leases for hotel, apartment, and restaurant parcels;
- Advising City staff on the public/private financing plan for the Shoreline Park, which includes Cal Coast assuming responsibility for funding 50% of annual maintenance costs for the Shoreline Improvements. The other 50% of costs will be funded by the Shoreline Enterprise Fund.