Riverfront Development's Economic Impact Report Released

We recently wrote about Davidon Homes on Petaluma's Westside, but another, much larger, development is gaining momentum.

Basin Street Properties’ Riverfront Project plans to build 134 new single-family homes, 100 apartments, a 120-room hotel and 9,000 square feet of office and retail just off Lakeville Highway near Caulfield Lane.

It’s an ambitious plan for the now vacant parcel, one the developer says will boost the city’s revenues, provide as many as 350 permanent jobs and mixed-use housing.

The development will also have more than seven acres of open space and numerous live-work spaces, similar to the type now found at the Celsius 44 development. It’s also anticipated to generate about $173,000 a year for the city or $600,000 if a hotel is built, according to the recently released economic and fiscal impact study.

When Riverfront was first presented in fall 2011, Petaluma Fire Marshall Cary Fergus raised concerns about a lack of a second entry and exit point into the development, especially once the SMART train is operational.

But after an emergency vehicle access assessment conducted by an independent contractor in 2011, Fergus says he feels confident fire trucks and other first responders will still be able to access the site by turning right on D Street, then traveling down the one-way ingress to Hopper Street.

Two emergency access gates are proposed along the emergency vehicle access road. Fire trucks would also be able to turn left on Hopper Street and travel against traffic for about 400 feet.

“It’s come a long way from where it was before,” Fergus said. “It has my stamp of approval.”

The city has often discussed putting in a southern crossing to connect Caulfield to Petaluma Boulevard South, but funding for it, estimated at around $60 million according to Mayor Dave Glass, is not currently available.

Glass said the size of the project meant serious impacts to the surrounding neighborhoods.

“All too often politicians have promised traffic relief, but have only delivered one half of the promise—traffic,” he said.

The development’s fiscal and economic impact assessment report can be viewed here. It is expected to be reviewed by council in April.

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