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Downtown Development Project
The City of San Bernardino is moving forward with a new development and reuse plan for the 48.2 acre Carousel District site in heart of downtown. The development is expected to serve as a catalyst for downtown San Bernardino by building upon the pre-existing foot traffic brought in by the Regal Cinema and California Theatre. The city in conjunction with AECOM and The Fransen Company are working on this two-phrase project consisting of the 5.5 acre Theater Square district and 42.7 acre Carousel Mall. The initial concept being considered consists of a mixed-use development that would include residential market-rate housing, with well-known residential builder KB Home, and retail redevelopment with future phases of office, educational, and/or additional housing.
On November 2, 2015, the City entered into an Exclusive Negotiating Agreement (ENA) with a joint venture developer – AECOM/Fransen (Developer) – for redevelopment of the Carousel Mall (42.7 acres) and Theater Square (5.5 acres). The ENA allowed the City to work with AECOM/Fransen on an exclusive basis to develop a comprehensive Master Plan for the sites. Based upon the Developer’s ability to meet milestones, on August 15, 2016, the City Council extended the ENA period through May 2, 2017.
On August 15, 2016, the City Council also approved the Theater Square Development Services Agreement (DSA) for the first phase of the overall project. The DSA contained a list of requirements the Developer needs to meet and the compensation to be received based upon the sale of Theater Square. At this point, neither AECOM nor Fransen are receiving any compensation; the fee is tied to the land sale.
Theater Square Strategic Plan as presented to City Council on February 8, 2017