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January 2, 2006 Windsor Builder Buys Key Cotati Site
North Bay Business Journal
 

COTATI – Orrin Thiessen, the developer behind the wildly praised Windsor Town Green mixed-use development, purchased a 6.5-acre lot in downtown Cotati that had once been planned for a supermarket and is now the centerpiece of his proposed residential and retail project.

The completion of the $3.7 million transaction marks the addition of the largest and final component of an envisioned 13-acre project that will incorporate similar planning and design elements found in Windsor.

The planned development is on the east side of U.S. 101, near the intersection of Gravenstein Way and Old Redwood Highway.

"In Windsor, we implemented the vision of the town, and that is what we hope to accomplish here," said Mr. Thiessen. "Cotati has spent a lot of time and money coming up with a plan to improve this area, and we think our ideas are in accordance with theirs."


200-250 residential units plus retail
Mr. Thiessen believes the completed project would contain 200 to 250 residential units and up to 150,000 square feet of ground-floor retail space.

The Town Green project in Windsor is also 13 acres and is planned to contain 250 residential units and 150,000 square feet of retail space. The Windsor development currently houses over 40 retail businesses, and Mr. Thiessen expects the number to eventually surpass 100.

Since 2001, Mr. Thiessen has made over 10 acquisitions in the vicinity of the former Albertson's grocery store site in an attempt to piece together a contiguous lot.

Although the developer does not have entitlements or permits for the project and still must go through environmental review, he believes the city is agreeable to his plans.

"It appears the town is proactive and would like to see a mixed-use project in that area," said Mr. Thiessen. "Because it is a redevelopment area, the tax windfall for Cotati could be significant. This is not to mention what the property taxes would be on what we estimate to be at least $150 million in assessed value."

The planning department of the City of Cotati was closed from Dec. 16 to today and could not be reached for comment.

Although Mr. Thiessen has yet to name the project, the City of Cotati calls the area the Northern Gateway. The 13-acre mixed-use development is one component of an overall refurbishing of the residential and commercial zone that runs southeast down Old Redwood Highway to La Plaza on Sierra Avenue.


Construction could start in 2007
The developer hopes to bring preliminary plans to the city this summer and is optimistic that construction could begin in 2007.

Mr. Thiessen purchased the 6.5-acre parcel from Albertson's Inc., the Boise, Idaho-based operator of grocery and retail outlets. The company, which bought the property in 2001, had originally intended to construct a 43,000-square-foot store on the site but was thwarted by city residents who opposed the presence of a "big-box" retailer.

Although Albertson's has recently been in negotiations to be sold, Mr. Thiessen and Mark Koenig, the broker with NAI/BT Commercial Real Estate that represented Albertson's, said the national negotiations did not affect the Cotati talks.

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