Hunter/Storm LLC has been tapped by the Redwood City City Council to redevelop Block 2, a city parking lot on 950 Middlefield Road.
Five developers were interested in the prime downtown site but the short list came down to Cupertino-based Hunter/Storm LLC and Lowe Enterprises out of Los Angeles. The two developers submitted final proposals at the end of March and had been eagerly waiting to hear who will be tapped to develop the 2.3-acre plot.
Redwood City spokesman Malcolm Smith said Tuesday the next step is for the city to start negotiations with Hunter/Storm toward a development agreement.
Hunter/Storm’s proposal involved a $100 million project that will be mainly office on the lot that is adjacent to the Redwood City Caltrain station. Ed Storm, chairman of Hunter Properties – the umbrella company of Hunter/Storm – said his firm’s plan is to build a pair of multistory office buildings totaling about 261,000 square feet with a small retail component. The developer also is proposing a 120-room hotel to be constructed in conjunction with Palo Alto-based BPR Properties.
Completion is tentatively scheduled for February 2015.
For more details on what Hunter/Storm has planned for the site, read Friday’s edition of the Silicon Valley/San Jose Business Journal.
Mary Ann Azevedo covers real estate for the Business Journal. Her phone number is 408.299.1820.