SAN LEANDRO — A big mixed-use housing and retail development in San Leandro whose anchor tenant will be Sprouts Farmers Market is poised to move ahead after landing its construction financing.
The Centro Callan project has obtained a $69 million construction loan that’s being provided by Principal Life Insurance Co., according to documents filed on Oct. 14 with the Alameda County Recorder’s Office.
The project consists of 196 apartments and 31,000 square feet of ground-floor retail, according to JLL Capital Markets brokers Brandon Roth, Spencer Bergthold and Elijah Lax, who arranged the construction financing.
Sprouts Farmers Market has struck a deal to be the anchor tenant for the retail, JLL Capital Markets said.
“Centro Callan is a new mixed-use project in San Leandro that anchors the entrance to San Leandro’s commercial core,” according to a post on the website of the Chamber of Commerce.
The Martin Group, Sansome Pacific Properties and STARS REI are the primary developers of the project
The five-story building will be constructed at 1188 East 14th St. in San Leandro, documents on file with city officials show.
Centro Callan will consist of a mix of studio, one-, two- and three-bedroom units, according to the development proposal. Some units will include large patios and balconies.
“The building amenities include 20,000 square feet of open space along with a dog park, dog wash station, chef’s entertaining kitchen, clubroom with televisions, indoor phone booths and conference rooms, outdoor work pods, outdoor barbeques and televisions, outdoor game area and a secret garden,” according to JLL.
The property, located at the corner of East 14th Street and Callan Street in San Leandro, was once occupied by a CVS pharmacy store that’s been shuttered for a number of years.
Some residents and business leaders have suggested the site has become an eyesore.
“The Martin Group embarked on a vision to deliver high-quality workforce housing a short walk from the San Leandro BART station,” the Chamber of Commerce stated in its web post.
Source: www.mercurynews.com