The west end of town moved a step closer to the fulfillment of a vision last month with the completion of plans for a commercial building with 7,200 sq. ft. of street level retail space and seven residential units upstairs.

The project sits on three city-owned creekside lots across from Endeavor Hall. Originally dubbed Rivulet, it was started in 2008 by the Komgold Co., developers of the Flora Square building across the street. In 2009, the Rivulet project came to a halt when the developer failed to replenish the deposit account.

The plans were nearly complete and the environmental studies were done, so the city stepped in to pick up the project using $34,000 fro the Redevelopment Agency to finish the plans and complete the entitlement process. The city is actively seeking a developer for the project.

Despite current economic conditions, Councilwoman Julie Pierce is optimistic. “We’ve already had a very serious inquiry from a local, highly qualified developer who has the expertise and the money to build the project.”

There is a remote possibility that the city may partner with a developer on the affordable housing aspect of the project using affordable housing money that can’t be used for anything else, says Pierce.

“We hope a developer will come in and buy the whole thing on their own and finish it,” she adds.

The project is consistent with the Town Center Specific Plan, which calls for a two-story, Western-themed construction with the ground floor designated for retail use. Upstairs are seven residential rental units that will go toward meeting the city’s affordable housing requirements. A parking garage for the residential units will be equipped with hydraulic lifts to stack the cars two high.

At the north end of the building, a small park will provide seating and a watershed education area.

The building was originally planned to take advantage of a temporary waiver of onsite parking requirements for smaller commercial buildings. Since the waiver was set to expire June 30, the council voted to extend it for another three years. Creekside Terrace will utilize on street parking and the public parking lot next to Endeavor Hall.

Across the street from the proposed project, the 14,000 sq. ft. Flora Square stands empty – save for one tenant upstairs. The project went into receivership last year short of completion and several prospective tenants were turned away, says Pierce.

Earlier this year, Thomas Properties, a Walnut Creek investment firm, bought the building and is actively seeking tenants.