Two
interesting proposals for the city-owned Bastanchury Road property
once planned for Friends Christian High School are among responses
submitted to city officials after a “request for interest” was
issued for the 40 acres between Casa Loma and Eureka avenues.
Letters
of interest were submitted by Brian Moore, pastor of the nearly
1,000-member Crosspointe Church, for a northern portion of the site
and Ryan Aeh, a vice president for developer City Ventures, for a
southern section to build about 20 estate-sized homes.
The
proposals were mentioned in a city-commissioned Urban Land Institute
report outlining alternatives for the site that included mixed uses
such as dog and skate parks, soccer fields and an equestrian center,
as noted in last week's column (see at ocregister.com/yorbalinda).
Both
ventures would appear to be financially feasible, unlike the Friends
Christian project for a 1,200-student high school hindered by
expenses associated with land preparation and escalating lease
payments to the city for about 32 acres of the property.
Moore,
pastor since 2006 of the church on Yorba Linda Boulevard between
Avocado Avenue and Ohio Street, told me his plan would be a “win-win”
for the city and the growing church, since the 800-1,000-seat
sanctuary would be available for performing arts and community
events.
Moore's
letter to the city stated the church would prefer to buy the property
based on an appraisal of the land's value with the current deed
restrictions but also would be willing to lease the property for 99
years at 6.5 percent of appraised value with annual 2.5 percent
increases.
“Crosspointe
can provide proof of funds showing significant cash reserves” and
“demonstrate ability to perform financial obligations in a lease
scenario,” Moore noted in his letter to the city. He stated the
church could pay cash by placing debt on the current facility worth
$7 million.
Church
plans center on the north or “tank farm” portion bordering
Lakeview Avenue and part of the central “main” site, both
deed-restricted for public uses, and include an initial facility of
about 50,000-square feet with future expansion to some 100,000-square
feet.
Moore
also told me the church would pay for a parking lot to be shared with
nearby Lakeview Elementary School and for city recreational uses. His
proposal to the city includes a lot with about 600 spaces.
The
City Ventures proposal is for the southern 13.5-acre “base” site
fronting Bastanchury Road that's not deed-restricted and is currently
zoned “residential estate,” a category that requires a minimum
15,000-square-foot lot size and a maximum density of 1.8 units per
acre.
The
developer outlines a subdivision of about 20 lots for market-rate,
single-family detached homes, according to the letter to the city
from Aeh, vice president of land acquisitions. An offer to pay the
city $16.5 million for the property is included in the letter.