Vote Followed by 10-day Appeal Period with No Objections
Rocklin, Calif. – LRE & Companies, a full spectrum real estate development, asset manager, construction, and hotel management company, announces that it has received approval from the City of Rocklin to move forward with its plans for "University Square"-a 10-acre mixed-use development project at the intersection of Sunset Boulevard and University Avenue.
University Square is the developer's first project in Rocklin and second in Placer County, and will provide great opportunities for retailers in this growing community. The project is scheduled to be completed by the end of 2025.
Resolutions adopted
During the Feb. 13, 2024, City Council meeting, the Council moved to adopt the following resolutions of the City Council of the City of Rocklin:
- Approving a Design Review of University Square; and
- Approving a Conditional Use Permit for University Square.
The meeting was followed by a 10-day appeal period, during which time there were no objections raised by the public.
Retail, restaurants and more…
The site will have more than 20,000 square feet of retail space and 5,000 square feet of space for quick service restaurants with drive-thrus; a 123-room Hilton Garden Inn; a 10,000 square-foot daycare center; a 3,700-square-foot convenience store; and a car wash. Circle K, a convenience store and gas station chain offering a wide variety of products, will be 3,700 square feet and also sit on a site. University Square has lined up some exciting tenants, with leases to be finalized in coming weeks.
"The City of Rocklin has been an amazing partner and we could not be more thrilled and honored to get the green light for this project," says Akki Patel, CEO of LRE & Companies.
"University Square is another example of us following through with our approach of developing at dynamic intersections in growing markets we have identified over the years as a developer on the West Coast."
Akki Patel, CEO of LRE & Companies
Adjacent to townhome community
The project is adjacent to Estia at Rocklin, a build-to-rent townhome community with 181 units, and located across the street from William Jessup University, a private Christian university with more than 3,000 students. It is also just east of the 8,497-acre Sunset Area development, whose plan is centered around a new California State University, Sacramento and Sierra College campus.
Become a tenant
Currently, LRE & Companies is reviewing letters of intent from interested tenants to fill the remaining spaces. Interested parties can contact Ariel Fox [email protected]. The project is scheduled to be completed by the end of 2025 and will be a retail hub complemented with hospitality components.
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