The proprietors of the former Sears property have proposed 550 rental housing units to be constructed on their nine-plus acre land off La Cumbre.
At a Santa Barbara City Council meeting on Tuesday, an attorney representing the Sears belongings proprietor’s and local officials mentioned whether or not to study adjustments to the whole La Cumbre Plaza shopping mall or the Sears belongings itself reviews The Independent
Macerich, the business enterprise that owns the La Cumbre Plaza minus Sears and Macy’s, said it’ll no longer cooperate in creating a new improvement plan and has a “lock on the assets for the following seventy-eight years,” reports The Independent. Macy’s has a lease for the next nine years.
The Sears proprietors proposed to construct 550 condominium flats stating if the council did not approve their offer, the owners might need to lease the distance to industrial tenants.
The city council voted 6-1 for the Sears proprietors and development director to come back lower back with an offer for the complete vicinity and including an agreement for the Sears assets.
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