Commercial development – Hollister

Great River Engineering recently completed project planning studies and preliminary design for Hollister 33 LLC’s 62-acre tax-increment financed commercial development in Hollister. Tax increment financing was recently approved by the city. Phase I plans call for a 200,000-plus-square-foot retail anchor store with an additional 65,000 square feet of mixed-use commercial space. Phase II plans are for an additional 145,000 square feet of mixed-use commercial and retail space and a possible hotel. Infrastructure improvements include widening Birch Street to five lanes south of Industrial Drive, construction of a new east/west road from Birch Street to Maple Street, extension of Industrial Drive to the new road and an extension of Financial Drive to Birch Street. Water, electric, storm water and sanitary sewer extensions also will be constructed to serve the development. Piper Jaffray is the lender for the project, which has an estimated cost of $78 million.