CARLSBAD — The North County Transit District board of directors approved two exclusive negotiation agreements with developers to construct hundreds of residences at the Carlsbad Village and Poinsettia transit stations.
The board approved the item during its Jan. 19 meeting awarding the agreement to West Village Partners for the Carlsbad Village and Raintree Partners for the Poinsettia transit stations. The 30-month deal allows the parties to negotiate business terms, provide design and environmental documentation, entitle the project and for the developers to conduct property due diligence.
The Village location has 11.33 acres of its 14.37 acres ready for development and Poinsettia will see 4.87 acres developed in the mixed-use projects, according to the staff report.
The Poinsettia project will have 17% restricted as affordable housing and 27% of residences in the Village development will be designated affordable.
“They look like high-quality projects,” said Encinitas Councilmember Kelly Hinze. “One of our goals is to have quiet zones for our communities. We want this to be a desirable place to live. I hope we can come to a consensus.”
The Village project will replace 435 parking spaces at a maximum of four stories and 35 units per acre. As for Poinsettia, the project will include at least five bus bays, replace 341 parking spaces, a maximum 35-foot height limit, and 30 units per acre.
The West Village Partners development would include 17,000 square feet of retail, 80,000 square feet of office space, active pathways, a greenbelt and a 110-room boutique hotel. The project includes 184 market rate and 50 affordable units, 407 parking spaces for commercial uses, a renovated transit station and a guaranteed base lease revenue capped at $2 million.
At Poinsettia, the lease revenues are estimated at $125,000 per year with a 2.5% increase per year, a 345-stall parking garage, new ticketing and bike amenities, connection to the Coastal Rail Trail, rideshare drop off, 5,000-square feet of retail and dining amenities.
Raintree also proposes 146 market-rate and 31 affordable units, a dog park, playground, greenspace and a separate parking structure with 298 spaces for residents and visitors.
Construction for the Village would begin in 2025, and Poinsettia would start in 2027, according to NCTD Clerk Suheil Rodriguez.
“Being able to have more density next to transit is a win-win,” said Vista Councilmember Corinna Contreras.
Tracey Foster, chief development officer at NCTD, said the agency’s push for development stems from three priorities — increasing transit ridership, fiscal responsibility and community integration.
Foster also said the transit projects would reduce the reliance on private vehicles for those residents, which would help the agency reach its sustainability goals. As for the lease, NCTD expects to enter into a long-term agreement between 50-99 years, providing a long-term revenue stream for the agency.
“Redevelopment projects are expected to generate value by maximizing ground lease revenues while also minimizing risk to NCTD,” Foster said. “As we progress with redevelopment opportunities, NCTD seeks to create projects compatible with surrounding communities.”
According to NCTD, the Village station sees a weekday average of 800 riders — 600 on the Coaster and 200 on the Breeze (bus). The Poinsettia station has an average ridership of 400 on the Coaster and 40 on the Breeze.
Additionally, NCTD staffers said the new project must accommodate the construction of the Carlsbad Village Trench Project, which would move up to one mile of the tracks below grade and include double tracking.
Trenching has long been a goal of the state, county and San Diego Association of Governments to expand the LOSSAN (Los Angeles-San Luis Obispo-San Diego) corridor, the second busiest rail line in the country.
