A Dallas-based developer, Centennial, is seeking public funding of $60-$75 million to build a 1,500-space parking structure at the Valencia Town Center mall. The proposed development also includes senior housing units, a Costco and gas station, and a 70-room hotel. City officials are reviewing the proposal, with some council members expressing concerns over the cost and timing. Councilman Jason Gibbs said he wants to explore offsetting options or partnership opportunities to make the project more feasible for the city’s budget. Meanwhile, Councilman Bill Miranda considers the request a “nonstarter” due to Centennial’s lack of transparency in its initial communication with the city.
Source: https://signalscv.com/2024/12/council-members-balk-at-initial-mall-ask