The agreement at a glance
By The Malibu Times · Thu Feb 17 2000
Malibu gets:
- 20-year agreement with amenities, which include:
- 18.87-acre Point Dume parcel gifted to city
- $5 million gift to help build ball fields and community center on Point Dume parcel
- 25.54 acres given to wetlands/open space
3 parcels in the Civic Center
1 parcel in Trancas
- 10-year delay on building out on 19.61-acre Chili Cook-off site and adjacent one-acre site
- Overall reduced commercial square footage from IZO and general plan
Malibu Bay Company gets:
- 122,261 square feet of new commercial space
89,000 in Civic Center
33,261 in Trancas
- 20 new single-family homes in the Trancas and Trancas Beach area
- In 10 years: the right to build another 155,046 square feet in Civic Center to include 4 theaters with a maximum of 500 seats
As a measure of comparison:
- The current Malibu Theater has 2 screens and approximately 200 seats
- Existing Ralph's Market is approximately 36,000 square feet
- The Colony Plaza Shopping Center, which includes Ralph's Market, totals approximately 115,000 square feet
- The parcel in the Civic Center that runs from the Malibu Theater to Banana Republic to Supercare Drugs, which is not owned by the MBC, totals about 50,000 square feet
- Trancas Market is about 18,000 square feet
- Architect Ed Niles' proposed design for the Chili Cook-off Site (for which a model has been shown) is approximately 170,00 square feet total with 140,000 new square feet
- The other 30,000 sf is the existing Malibu Lumber, Animal Hospital and the Prudential/Douglas building, all on PCH.
-- Arnold G. York