Things Look Up for Sycamore North

The mood turned from skeptical to hopeful at Tuesday’s City Council meeting, after residents heard new plans for Sycamore North from the project’s new development.

“Sycamore North was almost the undoing of the city,” said Mayor Dan Romero. “Tonight…I think that what you give us is a continuation of what was planned,” Romero said to the project’s new developers, Presidio Development Partners, LLC. All five council members voted to authorize a purchase and sale agreement with Presidio for the Sycamore North site.

The city will get $425, 000 from the sale with the potential to make more if the project is highly profitable. Some residents showed up at Tuesday’s meeting to hear Presidio representatives’ presentation on their Sycamore North plan, which hadn’t before been made publicly.

"This thing has been sitting here a long time. It’s time to end it,” said resident Bill Kelly. “This seems like a pretty decent deal for the city of Hercules.”

After the community by Bridge Housing to turn the residential component in Sycamore North – which was designed to include 40,000 square feet of retail on the ground floor and three levels of a total of 96 condos on top – into all affordable housing units, the city put the project out to bid again with the idea of having market rate units.

Presidio was chosen as the city’s choice developer. Presidio Development Partners President Mark Conroe said under his company’s new plan for Sycamore North, the look of the building will remain virtually the same. The main difference will be an increase in residential and a decrease in retail spaces. Presidio tentatively plans to bring Sycamore North’s retail space down to 10,000 square feet and designate the rest of the square footage to high-end rental units.

Conroe said the struggling retail market and somewhat hidden location of Sycamore North made it financially unfeasible to designate 40,000 square feet to shops. Instead, he said, the 10,000 square feet would go mainly to sit-down restaurants.

“We agree that there should be more retail in Hercules. But the question is where and what type,” said Brad Blake, Chief Executive Officer of Blake-Hunt Ventures, which will work with Presidio and handle the retail component of Sycamore North. Blake said restaurants succeed largely through word of mouth advertising. “People will find it and they will go (here). If it’s a good restaurant with good food…” he said.

Blake said the design for Sycamore North’s retail calls for outdoor dining and a strong emphasis on an elaborate courtyard. “We think we could create a very (good) outdoor environment,” he said.

On the residential side of things, Conroe said the building will provide a “high-quality solution for those who are renting.” Presidio changed the project's plan to have condos into being rentals only.

Resident Phil Simmons and others raised concerns about potential parking problems created by the project’s increased density. Simmons also said he was worried that issues might arise around the high number of renters, who might not invest as much in their community as homeowners.  Overall, Simmons said, Presidio’s plan for the project was acceptable. “It sounds like we have a really good workable solution to a nightmarish problem.”

The apartments will have granite counter tops and some will have fireplaces. Conroe said he expects professionals who commute to San Francisco or elsewhere to be the bulk of renters.

Potential Sycamore North renters will be attracted to the city’s safety, closeness to the Bay and commuter-friendly disposition, Conroe said. “Walking four-tenths of a mile (from Sycamore North) to the BART parking lot is (a) huge (advantage),” Conroe said.

Equipped with workout facilities, business conference space and recreation rooms, it will be “the nicest apartment project north of the Bay Bridge,” he said.

Now that the city has the council’s approval to finalize its deal with Presidio, Sycamore North still has about a year and a half before it’s completed. Presidio will need to hold community meetings about its plans for the project and clear some of its residential reconfiguring ideas with the Hercules Planning Commission before it can begin construction.

“It’s always hard to pick up a project half way and that is half built,” Conroe said. He estimated that the project will cost about $30 million to be completed.

“We spent $38 million on that project for nothing. (But) here we are today with a new hope,” Councilman Gerard Boulanger said. "We are going from a nightmare to probably something much better.”