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470-490 Lawrence Way Future Hotel Site

Dec 30, 2016 11:00AM ● Published by Jennifer Neys

470-490 Lawrence Way Future Hotel Site

The City of Walnut Creek owns the property at 470-490 Lawrence Way (2.26 acres, currently the Corporation Yard property). In September 2016, City Council reaffirmed its commitment to selling the property to a hotel developer by authorizing staff to pursue an accelerated RFP (request for proposal) process to market the sale of the site. Hotels provide economic sustainability and many beneficial fiscal impacts. The addition of a new hotel would improve the city’s general fund tax revenue diversification.

In response to that call for bids, the city received five proposals and staff selected four developers (FPG, Intermountain, Lotus Hotels, and Tharaldson) to be interviewed by city council. Upon completion of the interviews, the city council will meet in closed session to provide direction to its real property negotiator regarding price and terms related to the sale of the property.

Community January 2017 470-490 Lawrence Way Future Hotel Site

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