(Cypress/West OC, 10/14/2013 rewritten & updated 10/15, scoll down for latest updates) In a brief announcement at the beginning of last night’s Cypress City Council Meeting, City staff indicated that ProLogis has informed the City that they are withdrawing their project and intend to sell the property back to the previous owners.
Staff indicated they will be contacting Christo Bardis, the former owner to confirm the ”unwinding” of the sale.
Whether or not Bardis will actually buy it back is somewhat unclear at the present, but he has recently indicated a willingness to do so and develop some sort of Senior Housing, but not necessarily the Continuing Care Seniors Community that Cypress and West Orange County so desperately need.
Hopefully ProLogis had the wisdom to see this just was not the right location for any of their massive developments, but is much better suited to the Seniors Continuing Care Facility the voters thought they were approving a year and a half ago.
10/15, 11:15: Prologis confirms that they are giving back their 33 Cypress acres and moving on! This from OC Register Reporter Rebecca Kheel, according to Cypress Citizens Preserving Open Space President David Rose.
It appears Kheel is in the process of researching a story for the Register which hopefully will go online later today. More kudos to the Register for expanding their local reporting!
Update from Cypress’ City Website:
3 new FAQs posted today on the “33 Acre Project ” FAQ section of the Cypress website:
34. At the October 14, 2013 City Council Meeting a statement was made that the entitlement applications for Prologis were returned Yes, the applications were returned once Prologis informed staff that they would no longer be pursuing the original warehouse development of the site.
35. Who owns the property? It is the understanding of staff that Prologis owns the property. However, Prologis has informed staff that they intend to have the property revert back to the original seller (10/15/13).
36. What does this mean for the future development of the site? Any future development of the site by a current or subsequent property owner will require submittal of new applications, a new environmental process with required notifications, and a new reimbursement agreement with the City and any prospective developer.
As always, your perspective and/or reporting on last night’s meeting, diplomatically expressed, is both welcome and appreciated.