I’ve spoken about this multi million-dollar project earlier in the year and now it appears this project is one step closer to coming together.
Cisterra Development that built the new Sempra building wants to build a Ritz Carlton, Whole Foods, Office space, Condos and Apartments. Yes, that’s a whole lot going on in one development that will be located at 7th and Market.
Yesterday, the city counsel voted 8-1 to start negotiations with Cisterra Development. The land is owned by the city so the city wants to know how much they will pay for the land and what exactly they will do with the land.
There will be 160 Room Ritz Carlton and also a Whole Foods. 156,000 square feet of office space, 115 apartments with an additional 32 for low-income housing. There will also be 58 Ritz branded condos for sale.
There is also an old historic hotel on the plot that can’t be destroyed that Cisterra will also manage and spend $ to improve the property.