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The Pleasanton City Council will receive updates on two large residential development proposals in East Pleasanton and decide whether or not the city should proceed with plans to annex the two properties during Tuesday’s council meeting.
Councilmember Julie Testa previously continued the agenda item from the Feb. 4 council meeting because she said there was “information not yet available that I thought would allow for a more complete discussion.”
One project — known as the Arroyo Lago project — aims to develop 194 single-family homes and 49 accessory dwelling units while the other, recently dubbed the East Lakes Project, aims to build 357 single-family, age-restricted homes and 88 age-restricted assisted living units.
According to the Feb. 18 staff report, apart from recommending that the council annex the two properties, staff will also seek council direction on changes to one project’s design, feedback on the other project’s age-restricted housing and inclusionary units and terms related to the application process for both.
“The applicants have made clear their intent to continue processing both the Arroyo Lago and East Lakes projects in Alameda County, pending any formal decision to proceed with annexation to Pleasanton,” according to the staff report. “However, the applicants have expressed willingness to work with the city to modify the projects in conjunction with an annexation application, and after considering feedback from neighbors of the Arroyo Lago Project, and from city staff regarding both the Arroyo Lago and East Lakes projects, have submitted revised ‘city’ versions of the two projects.”
Back in August, the City Council instructed staff to look into what the pros and cons would be if the city annexes the two properties in unincorporated East Pleasanton where developers are looking to build the new housing.
The two developments would be located in the East Pleasanton planning area, which is a 1,100-acre area located east of Valley Avenue and Busch Road, north of Stanley Boulevard and south of Arroyo Mocho. Both properties are owned by SteelWave LLC — a San Mateo-based real estate developer.
According to the staff report, the Arroyo Lago project is aiming to span across 26.56 acres located immediately east of the city’s limits.
The applicant for the property — Danville-based 330 Land Company — submitted a preliminary application to the city with “project revisions, primarily to address concerns raised by residents of the adjacent Village at Ironwood.” The project is also currently undergoing CEQA review, which will look at potential environmental impacts.
The East Lakes Project aims to build a total of 445 units across 61.6 acres located east of the Arroyo Lago site.
Steelwave originally submitted an application to the county under the builder’s remedy state provision, which allows developers to build housing projects that don’t comply with local zoning or general plans, last June that sought to build 569 residential units exclusively for seniors. However, since then the applicant submitted a revised preliminary application to the county that reduced the total unit count to 357 single-family, age-restricted homes and 88 age-restricted assisted living units, according to the staff report.
Since the August 2024 council meeting, staff “prepared technical studies for the projects, including a fiscal impact analysis, infrastructure capacity analyses, and traffic analysis, and has had initial discussions with Alameda County staff.”
Now, staff will be presenting all of that information and will seek council direction on the annexation and development of the two projects in Pleasanton, which could bring much needed revenue and help the city meet state-mandated housing requirements.
“This agenda report and meeting presents the results of the above discussions and analysis and requests the City Council’s direction on whether the applicants should proceed with formal applications to the City for annexation and development within Pleasanton,” the staff report states.
Additionally, the council will be providing direction on the two projects — specifically on potential changes to the Arroyo Lago project’s design and on proposed units in the East Lakes project.
According to the staff report, Steelwave provided two alternate proposals for the latter project — one includes 697 units, with both market-rate units (no age restriction) and age-restricted active adult units, while the other proposal includes 628 units with market-rate, single-family homes and duets (no age restriction) and senior multifamily units.
The City Council meeting is scheduled to begin at 7 p.m. Tuesday (Feb. 18). The full agenda can be accessed here.
In other business:
* The council will be voting on adopting a resolution to approve several mid-year adjustments to the city’s 2024-25 budget.
According to the staff report, the mid-year budget update provides a summary of the city’s revenues and expenditures from the past year and includes proposed budget adjustments in various funds such as the General Fund, Water Fund, Internal Service Fund, Special Revenue Funds and Capital Project funds.
These adjustments to the budget are based on “the latest information and projections related to various tax revenues and expenditure budget items.”
“Staff examined all revenue sources based on more up-to-date information and proposed adjustments as appropriate,” according to the staff report. “Proposed expenditure adjustments reflect a collection of necessary budget updates and have been kept to a minimum whenever possible.”
Staff will go over the financial impact the recommended adjustments will have on each fund as well as the respective impacts on the budget and fund balances.
* The City Council will be looking to accept the city’s Annual Comprehensive Financial Report and other audit-related reports for the 2023-24 fiscal year.
According to staff, each year the city is required to prepare audited financial statements in addition to other financial reports for council approval.
This year, the city received an “unmodified opinion on the financial statements,” from The Pun Group (TPG) — a certified public accountant based in Santa Ana, California.
According to staff, an audit committee made up of Mayor Jack Balch and Councilmember Craig Eicher reviewed these reports on Feb. 11 — their comments and recommendations will be reported to the rest of the council Tuesday.
Staff state that there were some findings and recommendations resulting from the 2023-24 audit but those changes will “have no impact on the city’s spendable resources.”
