With the recent news that Lamesa Properties has been unable to secure financing for its proposed Sonoma development, what will end up happening to Bolsover Street, which the city sold to the developer (via the Examiner‘s Michael Reed):
Councilwoman Anne Clutterbuck of District C, where the project is located, said while she is “saddened” by the announcement, she expects to eventually “see a project similar to what was presented to the community” at the site.
In an effort make the project possible, the City Council on Aug. 8, 2007 voted to sell the 2400 block of Bolsover Street to Lamesa for $1.74 million, or about $60 a square foot.
The sale of the street was contingent on completion of the project “as substantially presented to the community” and the installation of left-turn bays approaching Kelvin and Morningside at the Rice Boulevard intersections by December 2012.
The building that once stood where Phase 1 was planned on the north side of Bolsover, containing Nit Noi restaurant and other businesses, was demolished in October 2007.
Clutterbuck said it is her understanding Lamesa intends to fence off most of the property from the public for the time being, and that it will be “kept it in the manner befitting the community.”
She said there has also been talk of using part of the site for such things as a community market or a staging area for other projects in the area.
Meanwhile, Walgreens spokesman Robert Elfinger said Monday the Rice Village store will close Dec. 31 as planned and will not be relocated.