The agreement at a glance

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

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13StarsManagerhttps://malibutimes.com
The Malibu Times is the first newspaper in Malibu, serving the community since 1946.

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