The people of Santa Barbara are mostly in agreement that something new needs to be done with the Paseo Nuevo Mall, but what that is and how to do it, is another story.
Last week, the City Council voted to move forward with plans to redevelop the property.
At the center of the development plans is approximately 500 housing units. How many of those will be offered at below-market rates is the big question and a point Santa Barbara resident Brian Miller doesn’t agree with.
"Santa Barbara is a tourist destination and place where people come to. It's always going to be expensive and difficult to afford here, it's going to become a place with a lot of housing but it's still going to be expensive," Miller said.
The minimum amount of affordable units required by the state for this type of development is 10%, a number executive director and CEO of the Santa Barbara Housing Authority Rob Fredericks wants to triple.
"I’m envisioning something like 30% to 40% of the units being affordable to low-income and moderate-income households," Fredericks said.
Fredericks stressed that not including a large number of affordable units would further harm the working class and local businesses. Paseo Nuevo business owner Anna Cardenas says something needs to be done.
"It has also been hard without the strongholds like Macy’s and Nordstroms. There is less foot traffic, not as many locals coming through the mall," Cardenas explained.
The mall’s 42-year lease is held by Alliance Bernstein, who’s partnering with Georgetown Company for the redevelopment of the mall. In addition to housing, the development plans to have 85,000 square-feet of retail space. The developer and City have not said how many units will be leased at below-market rates, how tall additional construction will be or where specifically the units will go.
