SANTA BARBARA, Calif.-The Santa Barbara City Council received an update on the Paseo Nuevo redevelopment project today.
The proposal would add housing to the shopping area.
The city council unanimously voted in favor of the staff's recommendation to amend the project description in the agreement between the city and Paseo Propco LLC.
The council also voted in favor of a resolution declaring a city-owned parcel, that is currently a parking lot, to be exempt surplus land allowing negotiations to create affordable housing to move forward.
The parties involved include Alliance Bernstein (AB) that own the mall's ground leases.
Rather than demolish the current Paseo Nuevo this plan includes more than 230 apartments in a 7-story building between State and Ortega and Chapala.
Council members shared concerns about the height before the vote.
It would also include 80 affordable apartments on the parking lot at Chapala and Canon Perdido.
Mayor Randy Rowse called that a miracle and said AB has the money to make this happen.
Residents and visitors would enjoy a new grocery and gym that have not been named.
The city is considering incentives to keep investors at the table.
The old Nordstrom building now owned by Shoposs is not part of this project, but councilmembers would like AB to engage with them since the building is a part of Paseo Nuevo.
Your News Channel will have an update on what happened during the City Council Meeting tonight on the news.
Paseo Nuevo redevelopment vote paves the way for housing, affordable housing and more News Channel 3-12.
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