Pepsi campus development update

A brief update regarding the Pepsi campus

  • The Himmelrich organization has hired a retail broker, KLNB, to help market the site to retailers. The marketing brochure is available on the KLNB website, and was briefly reviewed at the meeting, including looking at a site plan designed to show where retailers could go on the site and within certain buildings.
  • An anchor tenant has not yet been secured. The targeted anchor remains a grocer.
  • Harris Teeter was purchased by Kroger a few years ago and this has slowed expansion for that chain. Marketing continues with other major chains.
  • The City is actively marketing for and pursuing grocery development which could benefit the Pepsi campus.
  • Pepsi vacated December 2016 and the site is empty. Contrary to rumors mentioned by the community group officers, the Himmelrich organization is not currently entertaining short-term use or warehousing for the location.
  • The Himmelrich organization met with the City Planning Commission to review the concept plan and drawings that have been presented to the Hampden, Woodberry and Medfield community associations.
  • FEMA has approved the flood wall, resulting in a Conditional Letter of Map Revision (CLOMR). The top of the flood wall is above the 100 year flood plain elevation, but approximately 2.5 feet of additional height (known as “freeboard”) will be along the northern portion of the wall. Once added, the CLOMR will become a FEMA-approved Letter of Map Revision (LOMR), effectively mapping the property out of the flood plain.
  • Sam Himmelrich confirmed that the current plan is for all current buildings to be leveled and cleared once an anchor is secured, and the revisions to the concept plan would begin to move forward.
  • No site work is planned until an anchor and retail tenants are secured.
  • A boutique hotel would need to be approved through the Board of Municipal and Zoning Appeals (BMZA) as it is a conditional use within the I-MU designation.
  • At this time, no boutique hotel organizations have expressed interest in the site.
  • The community representatives again asked the Himmelrich organization to include a pedestrian/bike lane from the north of the property that would allow access to the Union Collective. This is viewed as a connectivity asset for the Mill Valley appeal and development.