The Sunnyvale Sun
News
Project delays prompt city to issue a notice to developers
Fourth Quarter Properties is given to May 14 to meet goals or explain
By JASON GOLDMAN-HALL
Concerned over the apparent lack of progress on the redevelopment project at the Town Center Mall site, the city of Sunnyvale issued a 60-day notice to Fourth Quarter Properties, demanding that certain goals be met.
If Fourth Quarter does not meet the five deadlines--or give sufficient reason for the delay--by May 14, Mayor Ron Swegles said the city will take the actions it deems necessary, which could be as severe as rebidding the project and looking for new developers.
"We're hoping that it doesn't reach that point," Swegles said. "We hope that they will cooperate."
Specifically, Swegles said Fourth Quarter Properties--the company formed by the Forum Development Group to handle the project--has failed to meet five expectations of the Disposition and Developer and Owner Participation Agreement signed between Fourth Quarter and the Sunnyvale Redevelopment Agency.
According to Swegles, Fourth Quarter
has failed to obtain approval for a new parcel map for the project, failed to submit construction plans and failed to obtain construction permits, all of which were supposed to have been done by Sept. 1, 2005. It also failed to apply for construction permits by February of this year and failed to commence construction by the beginning of the year.
Project manager Jane Vaughan--who represents the Georgia-based Fourth Quarter Properties--has said recently that the delay is partially due to problems getting Macy's and Target to sign off on plans on the site. Macy's and Target are stakeholders because the project directly affects their facilities and business.
Some in the community do not feel the reason is so simple.
"We feel like the mall developer is blaming Macy's and Target, but we think the delay is blackmail to get more housing in the project, because housing is pure cash for them," said Friends of Sunnyvale president Paul Reed.
Vaughan has said that there may be more housing added to the project as it develops, but denied rumors that the project would be turned into an all-residential complex.
By press time, representatives for Fourth Quarter Properties had not commented on the issue.
