434-470 North Lake Avenue Mixed-Use Development Opportunity

Post InformationPosted At:Tue, Mar 19, 2024 3:12 PMSealed Bid Process:NoPrivate Bid:NoOverviewSummaryThe City of Pasadena (City) is issuing this Request for Information (RFI), seeking responses from highly qualified development firms for the design, planning, financing, and development of the City-owned property at 434-470 North Lake Avenue. The property is located at the southeast corner of North Lake Avenue and Villa Street and encompasses three unoccupied medical office buildings totaling 24,871 square feet. The City is seeking information and a preliminary approach from developers that will suit a variety of uses as permitted by the City’s Zoning Code with priority emphasis on a mixed-use development that features housing, a minimum of 15,000 square feet of office space, and neighborhood-serving retail.The City of Pasadena will pursue development of this project consistent with the requirements of the Surplus Lands Act, California Government Code Section 54220, et seq.BackgroundOn

October 2, 2023, the Pasadena City Council authorized the Pasadena City Manager to execute a Purchase and Sale Agreement to acquire the property at 434-470 North Lake Avenue. The City closed escrow in November 2023 and owns the property.Lake Avenue is the principal mobility corridor linking downtown Pasadena with the neighborhoods north of the I-210 freeway, and Altadena beyond. The property is situated within the North Lake Specific Plan (NLSP) area. The plan area features a prominent north/south corridor connecting with the Central District to the south, the I-210 freeway, the Metro A Line Lake Station, and the historic residential neighborhoods of Bungalow Heaven, Washington Square, and Historic Highlands, connecting with Altadena to the north. The plan area also includes east/west portions of Orange Grove Boulevard, Washington Boulevard, and Villa Street, branching off North Lake Avenue. These intersections act as important commercial nodes and east/west connections for the plan area.Today, the NLSP is predominantly a commercial district whose character reflects the evolution of design and development trends over the past century of growth. However, with the adoption of the 2015 General Plan, there is an opportunity to incorporate low-medium scale residential development on infill sites throughout the area, while preserving and celebrating historically significant properties and architectural characteristics and supporting a more pedestrian-oriented streets environment.TimelineRelease Project Date:March 19, 2024Site Visit (Non-Mandatory):April 3, 2024, 12:30pm 434-470 North Lake Avenue, Pasadena, CA 91101Question Submission Deadline:April 9, 2024, 3:00pmProposal Submission Deadline:April 23, 2024, 3:00pm