Greystar, MetLife Tussle with Mountain View Over Housing Development Timeline

West Coast Land Use and Environment attorney Tamsen Plume was quoted in a Silicon Valley Business Journal article recapping a Mountain View City Council meeting where councilmembers approved Greystar Real Estate Partners' proposal to redevelop a J.P. Morgan Chase bank branch but denied its request for a timeline extension. The proposed $350 million redevelopment consists of an apartment complex with ground floor storefronts and a new Chase branch. Greystar had asked to extend the project's timeline from two years to eight years, obtain financial credits for the public benefits it incorporated into the project and designate a permanent loading zone along Victor Avenue. The city signed off on the latter two requests but not the extension, arguing it would increase costs and amount to land banking in an area where housing is needed immediately. Ms. Plume, who represents the developer, defended the request for a longer time frame and contended shorter time periods would disincentivize investors and lenders. Some of the conflict also stemmed from differing interpretations of California's Housing Accountability Act, which limits local governments' ability to delay or deny housing development projects that meet local zoning and general plan requirements.

READ: Greystar, MetLife Tussle with Mountain View Over Housing Development Timeline (Subscription required)