Stockton's $3.5 million waterfront apartment project deal approved. What it might mean
More than 500 new apartments may go up on Stockton’s downtown waterfront following a $3.5 million development deal the city council approved this month.
Backed unanimously by the council on Feb. 6 — with Mayor Kevin Lincoln recusing himself — “South Pointe” may be among the largest projects scheduled downtown in recent years as Stockton struggles to revive the area and increase affordable housing.
The deal comes three years after officials first negotiated with developer Ron Beit, head of the New Jersey-based RBH Group, under former Mayor Michael Tubbs.
Lincoln recused himself due to a $3,300 political contribution he received in November from Stockton lawyer Michael D. Hakeem, whose law firm has represented the developer, the mayor said Wednesday.
A new California law bars officials from voting on development deals if they received significant donations from a person or business involved in the past year.
Beit's three-building project is slated for the south bank of Stockton’s waterfront, less than a block west of the Waterfront Towers, where officials have planned since 2017 to move city hall.
At least 15% of South Pointe’s 520-plus planned apartments must be affordable to households earning 80% or less of the area’s median income, the deal states. The rest would be market-rate.
The plan includes 4,000 square feet of educational space, 16,000 square feet of retail space and senior living units, the deal states. It’s not yet clear what education organizations and stores might move in.
Before any of that can happen, though, California law says city officials must research possible environmental impacts and damage the construction could cause.
The city must also clean up existing contaminants at the site.
Stockton already has $5.2 million from California’s hazardous waste protection agency for the cleanup, the deal says. But the city may need to find more government funding or pay up to $3.5 million out of its pocket if the state money doesn’t cover the full cost, the deal states.
If the gap exceeds $3.5 million, the developer can either foot the bill or end the deal, the agreement says.
It’s unclear how much officials think the cleanup will cost or when construction might begin.
Record reporter Aaron Leathley covers public safety. She can be reached at aleathley@recordnet.com or on Twitter @LeathleyAaron. Support local news, subscribe to The Stockton Record at https://www.recordnet.com/subscribenow.
This article originally appeared on The Record: Development with 500 apartments, retail planned in downtown Stockton
