OGDEN -- A California-based company has submitted a master plan agreement to the Ogden Redevelopment Agency in hopes of undertaking the long-awaited Ogden River Project.
Marina del Rey-based Lee Homes reportedly has completed construction projects valued at about $500 million over the last five years, and Jeff Lee, company president, said it is well positioned to oversee the building of residential and retail structures as part of the Ogden River Project.
"We think we are the kind of people to do a really good job for the city of Ogden," he said in a recent telephone interview.
Ogden's administration presented the RDA board, made up of city council members, with a master plan agreement for the river project during a closed executive session Tuesday night, said Tom Christopulos, the city's business development manager.
Christopulos declined to name the developer who submitted the agreement or to provide specific details regarding what was discussed because of the confidentiality of the meeting held to consider the purchase, sale, exchange or lease of real estate property.
City Council Chairwoman Caitlin K. Gochnour and John Patterson, Ogden's chief administrative officer, also declined to discuss the executive session.
Christopulos said it has not been determined if and when the RDA board may vote on the master plan agreement.
Meet soon?
Lee hopes to meet with the RDA board soon to detail his company's proposal for the 60-acre mixed-use development that would straddle the Ogden River from 18th to 20th streets and Washington Boulevard to Wall Avenue.
"We believe it can be viable," he said regarding the project's potential.
The river project would be Lee Home's first venture outside of California.
The administration plans to provide the RDA board with more information regarding architectural and design standards for buildings within the project area, as well as other aspects of the master plan agreement, Christopulos said.
Lee said his company became aware of the river project because his father, Harlan Lee, chairman of Lee Homes, is a close friend of Gadi Leshem.
Leshem is affiliated with Ogden Riverfront Development LLC, which owns about 60 percent of the property in the project area.
The remaining parcels belong to the city and other individuals, Christopulos said.
Ogden Riverfront Development members are happy that Lee Homes is making a proposal to undertake the river project, Leshem wrote in an e-mail to the Standard-Examiner.
"We are pleased to see the project move ahead under the experienced and talented direction of Lee Homes, which, for more than half a century, has been one of the premier real estate development companies in our region," he wrote.
Lee said he has visited Ogden several times in the last few months and is impressed with the city's outdoor recreation amenities and downtown revitalization.
"You've got great mountains and a city that has come a long way (in terms of revitalization)," he said.
"We are always interested in working with cities in the early stages of urban development."
In phases
Lee Homes proposes to undertake the river project in phases, with a complete build-out in eight to 10 years depending on market demand, Lee said.
It hasn't been determined which phase would be first, but it's hoped that construction can begin later this year, he said.
"Expectations need to be realistic," Lee said regarding the scope and timeline for construction.
"I would rather be a hero than a goat."
Tentative plans call for the river project, which has been on the drawing board since 2002, to include about 250,000 square feet of retail space and about 850 owner-occupied dwellings, Christopulos said.
Lee Homes could seek yet-to-be determined monetary incentives from the city and tax increment financing to assist in the project, Lee said.
Tax increment financing is the extra property tax revenue generated by new development in a blighted area.
Lee Homes would possibly partner with other developers on various aspects of the project.
Lee said the company may also buy some properties from Ogden Riverfront Development or work in cooperation with the firm to build on some parcels.
Related link: This article is a topic of discussion at Weber County Forum.
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