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The Livermore City Council is set to hold a public hearing Monday (Jan. 10) to consider an amended and restated disposition, development and loan agreement (DDLA) with Davis-based hoteliers Presidio Companies to develop a four-story wine country hotel downtown.
The hotel site is planned for 2205 Railroad Avenue. The proposed DDLA establishes the terms of the sale of the city-owned site to Presidio as well as terms for a loan to acquire an approximately 0.77-acre property to develop a parking facility, according to the city staff agenda report.
As proposed in the DDLA, the city will sell the property to Presidio at the price of $71,521. The plans for the hotel include between 125-135 rooms with an approximately 3,300 square foot bar/lounge, 1,500-2,000 square foot meeting space, rooftop deck, fitness center, outdoor pool and an open courtyard and patio.
A DDLA was previously approved by the city in 2018, however, citizen-submitted referendum petitions in 2018 and 2019 as well as the 2019 Central Park Plan Initiative to change the land uses across the city’s downtown core site caused delays in the process of moving forward with the project.
The 2019 referendum petition garnered enough votes for the city to hold a special municipal election on March 3, 2020 for voters to www. The ballot measure was designated Measure P, which passed by over a two-thirds majority vote in favor of approving the development agreement between the city and Presidio to build the hotel.
The plans for the hotel initially included an underground parking facility with 120 spaces; however, increased construction costs over the course of the delay led to the determination that an underground parking garage was no longer feasible, according to city staff. The amended and restated DDLA now includes acquisition of an additional property at 2080 Railroad Avenue — formerly occupied by Valley Pool Center — to construct, operate and maintain a surface parking facility.
The proposed DDLA also establishes a new timeline for the hotel project. If the process remains on track, the Planning Commission and City Council review of the site plan and hotel design will occur in March and April of this year, respectively. Transfer of the property from the city to Presidio will also occur in April. Construction would begin no later than May 2024 and the hotel opening would be no later than December 2025, according to the city staff report.
City staff is recommending that the council approve the proposed DDLA.
“The approval of this DDLA will allow the downtown hotel identified in the approved Downtown Plan to move forward and be developed in a manner that is consistent and compatible with the Livermore Valley Center. Together with the Bankhead Theater, First Street/Railroad Avenue Commercial Projects, Livermore Cinema, Plaza, and parking garage, the hotel will contribute to successful downtown revitalization,” staff said in the agenda report.
The Livermore City Council meeting is set for Monday at 7 p.m. Access links to attend the meeting are available [granicus_production_attachments.s3.amazonaws.com/livermore/aae00fe32d8306b9aece89ba471c02660.pdf here].
