Excerpt from: Santa Clarita Real Estate
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| March 16, 2006 | | Monteverde Development Co. files plan to develop Smiser Ranch. | Monteverde Development Co. recently filed a plan to develop a 600,000sf business and retail center at the southern gateway to Santa Clarita. This development plan includes a hotel, upscale shops, restaurants and condos. Monteverde bought this 24-acre parcel in 2004.
This development will be very visible from the freeway, which may attract retailers that otherwise wouldn't consider a location in the Santa Clarita Valley based on population and demographics requirements.
The development's site plan includes 350,000sf of retail stores, a 150,000sf anchor store and 45,000sf of restaurant space as well as 1,000 condos and 5,000 parking spaces. Monteverde has also entered into an agreement to purchase the Santa Clarita Athletic Club, which would be demolished and replaced by a new 55,000sf fitness center. The development plan to solve flooding issues will also be needed, as this property is located in a flood zone. Remember when that area was almost completely underwater during the heavy rains not so many years ago?
Monteverde's representatives will meet with residents in the Calgrove Blvd area, Sunset Pointe and a nearby mobile home park to discuss the potential impact on these homes. They will also request a conditional-use permit to develop 10-story buildings, which are in excess of the current allowable limit of 55 feet. In comparison, the Hyatt Valencia is six stories and 92 feet tall. | |
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