Oakland council to choose between two candidate groups to redevelop Coliseum site – The Vacaville Reporter

OAKLAND – As negotiations over the Oakland A waterfront baseball stadium continue to garner attention, city council is set to move forward on Tuesday with plans to redevelop the vast site of the Colosseum which has housed the team for decades.

The council could strike an exclusive bargaining deal with one of two groups vying for the chance to redevelop the 100-acre property off Hegenberger Road.

The chosen group would then have a year or 18 months to come to an agreement to buy or lease the city’s share of the Coliseum complex site – the A’s own the other half – and redevelop it as a mixed-use project, according to a memo. from the city.

At the end of this period, the city could choose to extend negotiations, sign a development agreement to set the course for construction, or end talks and hit the reset button with other groups of people. development.

Although city staff have indicated there is no rush to strike a deal, Deputy Mayor Rebecca Kaplan is urging her fellow council members to act now to determine the fate of the Colosseum.

“It’s located in East Oakland, which has always been underinvested and damaged by past decisions that have undermined key community needs,” Kaplan wrote. “These communities are in danger of further disinvestment with the uncertainty of the future of the Colosseum complex and risk losing jobs and economic opportunities if the site is not revived in a positive and effective manner.”

The two groups courting the city want to transform the spectrum of ownership – which includes the Coliseum stadium which is currently home to the A’s and formerly the Oakland Raiders, and the Oakland Arena which once housed the Golden State Warriors, along with the parking lots surrounding it – in an oasis containing various mixes of sports from the fields or arenas, affordable houses, office buildings, businesses and maybe a museum pr two.

One group, the African American Sports and Entertainment Group (AASEG), includes founding partner Ray Bobbitt, former Oakland City Manager Robert Bobb, developer Alan Dones, sports agent Bill Duffy and consultant Shonda. Scott in partnership with the investment firm owned by Black Loop Capital. The group previously announced plans to form an expansion team of the Women’s National Basketball Association led by black owners to play in the arena, and recently revealed that 14-year-old WNBA veteran Alana Beard, would partner with her to lead this effort.

In interviews earlier this year, Bobbitt said the AASEG also plans to build housing, offices, stores, a sports and entertainment hall of fame, and a stadium for an NFL team owned by companies. African Americans at Coliseum Stadium. The group’s website also features on the site its vision to create a university satellite campus or other university center focused on sports and entertainment.

The other group is led by former A star and Oakland native Dave Stewart and certified players’ agent Lonnie Murray. They propose to renovate the Oakland Arena for concerts and music production, add sports and recreation grounds for young people and build housing, a museum or library, a business incubator, offices, shops and restaurants.

The group recently announced its partnership with Elaine Brown, former leader of the Black Panther Party and currently CEO of Oakland & the World Enterprises. According to its website, this company aims to create “for-profit businesses for co-operative ownership by former incarcerated people and others facing extreme obstacles to economic survival and to support these businesses towards profitability.”

The group also pledged to prepay a total purchase price of $ 115 million for the city’s share in the property.

Whichever group he chooses, he will likely have to team up with the Oakland A’s, who signed a deal to buy a 50% share of the Coliseum site in Alameda County two years ago for $ 85 million.

The A’s have been quiet about their plans for the property. When they bought it, the As’s said their intention was to redevelop the Colosseum site into housing, retail, office and research campus. They then offered to buy the city’s share so that they could become the owner of the entire property, but the city refused.

A spokesperson for the team did not immediately respond to a request for comment on A’s current plans for the site or his willingness to work with the group of co-owning or renting a share of the property. But so far team president Dave Kaval and Major League Baseball officials have insisted the A’s won’t continue playing at the Coliseum after the lease expires in 2024, unless the new stadium is under construction.

The A’s are still negotiating with the city to build a 35,000-seat waterfront baseball stadium, approximately 3,000 homes, hotel rooms, offices and an entertainment complex at Howard Terminal, near Jack London Square. The team is also exploring locations in Las Vegas and southern Nevada for a potential home.

Cautioning the council against choosing a development group now, city staff noted in a note that more time was needed to assess each group’s credentials and finances.

“Although both teams have recently expanded their development team, the initial staff review suggests that the teams did not show strong evidence of extensive experience in building comparable real estate projects on a large scale and in multiple phases similar in size, scale and cost to what is being envisioned for the Colosseum complex, ”said Alexa Jeffress, director of economic development and the city’s workforce. “In addition, each team submitted more detailed information from their proposed funding partners last week, and staff are still evaluating these documents.”

Staff recommend waiting until January to take action. Tuesday’s board meeting begins at 1:30 p.m. and can be viewed online at https://oakland.legistar.com/calendar.aspx.

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