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City looking to acquire downtown property for $2 million-plus

Original post made on Dec 4, 2018

The Pleasanton City Council will be asked Tuesday to formally sign off on terms for the city to acquire a commercial parcel on First Street for up to $2.34 million.

Read the full story here Web Link posted Monday, December 3, 2018, 1:46 PM

Comments (10)

11 people like this
Posted by Rob
a resident of Birdland
on Dec 4, 2018 at 9:34 am

I hope there will be some form of free city parking when this property is redeveloped, and not a couple of five-story condo buildings. I trust the new City Council will do the right thing.


7 people like this
Posted by Why Not Stack and Pack!
a resident of Another Pleasanton neighborhood
on Dec 4, 2018 at 1:09 pm

That's what they want to tear down the Library and Police buildings for- to enrich Builders and Developers!

They could claim it is near a bus stop- on Main,
and point to how nice the park would be for the future residents- who probably would not have any open space of their own. Of course they would limit the amount of parking provided, like building on the BART parking lots, so people could compete for the few parking spaces left.


Like this comment
Posted by Robert S. Allen
a resident of Livermore
on Dec 4, 2018 at 2:15 pm

Enhance parking at BART by adding major parking by I-580 at Isabel and at Greenville, and adding a freeway express bus connecting with every train until Valley Link gets built. Low cost, effective, no AB 2923 mal-planning.


7 people like this
Posted by Mark M
a resident of Old Towne
on Dec 4, 2018 at 3:14 pm

It is highly unlikely that the city would or even could develop the property on 1st Street. Those two buildings are eye sores and have attracted the wrong kind of people next door to a city park. The fact that they could build additional parking spots for people wanting to use downtown businesses, the Art Center or the park is a huge plus for our downtown. Now let’s get going on the much anticipated improvements to Wayside Park and get it done while we are still young enough to enjoy it!


5 people like this
Posted by Map
a resident of Del Prado
on Dec 4, 2018 at 5:52 pm

Some posters keep forgetting that we taxpayers did not pay extra taxes all these years to have shuttle buses from Livermore to Pleasanton Bart, enough of the easy shortcuts, give us the promised stations, the longer trains and quit selling off the present and future parking lots that our taxes paid for


7 people like this
Posted by Glenn L Martin
a resident of Sycamore Place
on Dec 4, 2018 at 9:51 pm

This is a bad time to buy real estate - we are in an overpriced market and have a good chance of a recession in the next few years. I wouldn't pay 2 million for that place if this were my money. I'd wait for a few years and expect to get a better deal.


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Posted by David
a resident of Alisal Elementary School
on Dec 5, 2018 at 7:03 pm

David is a registered user.

Like the newly renovated Kotttinger senior apartment complex, build new one and two story senior apartments and relocate the seniors now in the dilapidated units on Railroad Avenue and Division Street. Use the Railroad/Division property (across from the Firehouse) for addition downtown parking. We need both senior housing and parking in downtown.


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Posted by Pro-Law
a resident of Another Pleasanton neighborhood
on Dec 9, 2018 at 3:48 pm

@Glenn L Martin - but isn't that the million dollar question. If someone knew when the market would go up and down they would be filthy rich. The thing is no one knows and in a couple years it could be half the price or a couple years it could be double.


Like this comment
Posted by Pete
a resident of Downtown
on Dec 9, 2018 at 7:10 pm

Pro,

Currently prices are dropping and time on market is growing. I suspect we will see contraction for some tone because of reductions in SALT.


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Posted by Pro-Law
a resident of Another Pleasanton neighborhood
on Dec 10, 2018 at 12:04 am

@Pete,

So, when is it the bottom of the market? What is the day/price? The point of my post is we don't know either way.


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