Real Estate Group to Pay $1.9 Million for Base Line Property

The abandoned lot near the intersection of Towne Ave. and Base Line Road has been unused since the Claremont Redevelopment Agency acquired it in 2005, and it will remain so for the time being as negotiations between the city, real estate company City Ventures and the Los Angeles County Fire Department drag on.

The sale of the property has been delayed for more than two years because of chaotic changes to the Claremont city government and due to safety requirements that City Ventures has yet to meet, according to a city council report.

As a result of a California Supreme Court decision in Dec. 2011, hundreds of cities in California lost their redevelopment agencies, a move that helped the financially strapped state save money but also threw into confusion projects like the Base Line Road development.

The city assumed all of the property rights and functions of the previous Claremont Redevelopment Agency (CRA), which has slowed the negotiations with City Ventures.

In it's meeting on May 22, the Claremont City Council presented a new financial review that upped the price of the 2.66 acre parcel of land by $150,000, up to $1.9 million.

The CRA had originally agreed with City Ventures to a sale price of $1.7 million.

The new review also instituted a higher security deposit on the land, up to $230,000. The deposit was also made non-refundable in the new agreement.

The CRA bought the land in 2005 for $1,966,433.

The price for the property was increased after City Ventures requested the closing date on the property be delayed until June 30, 2014.

City Ventures also recently bought the property just to the west of original lot, which has forced the company to rework its designs for the development. 

The real estate company planned to build a residential complex on the site, similar to its other developments in Brea and Alhambra that feature eco-friendly town homes and apartments, according to the City Ventures website.

According to City Ventures, its real estate developments have been accredited by the U.S. Green Building Council.

Also delaying the process has been the "extensive negotiations" between City Ventures and the Los Angeles County Fire Department, "regarding building setbacks and building design standards due to the proximity of the high voltage power lines that bisect the site," according to the city council report.

The project has also yet to undergo a California Environmental Quality Act review.