On August 5, the Santa Barbara City Council will receive an update on the proposed redevelopment of Paseo Nuevo, which has been downsized 500 units to 233 units — with 80 affordable units — in the latest revision of the plans.
The latest plans, which were released to the public on Thursday, were created after the development team from AB Commercial found that the original 500-unit proposal would have required a full demolition of the mall. The new plans would keep many of the existing structures, shops, the museum, the Nordstrom building, and movie theater.
The current Macy’s building would be demolished, and the market-rate units would be built near the Ortega Street side of the property. Affordable units, which would likely be financed through tax credits, would be concentrated across the street from the Nordstrom building at the current site of City Lot 2.
The proposal includes more than 175,368 square feet of retail space, and the proposal is seeking an exemption to allow for a height of up to 75 feet.
The City Council will discuss the updated plans and vote on whether to amend the original development agreement on Tuesday, August 5, at 2 p.m.
