flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

The empire strikes back: George Lucas proposes new affordable housing complex he'll finance alone

Multifamily Housing

The empire strikes back: George Lucas proposes new affordable housing complex he'll finance alone

The latest plans are seen by some as payback for community opposition to his past real estate ventures.


By John Caulfield, Senior Editor | April 27, 2015
The empire strikes back: George Lucas proposes new affordable housing complex he'll finance alone

Filmmaker George Lucas plans to build an affordable housing community on his Grady Ranch property, and will finance it himself. Image: Wikimedia Commons

“Star Wars” creator George Lucas has submitted plans to the Marin County (Calif.) Development Agency to build 224 units of affordable workforce and senior housing on 52 acres at Grady Ranch.

This proposal is the latest broadside in an ongoing battle between Lucas and residents of this affluent neighborhood who, in the past, have blocked Lucas’s efforts to expand his production company, Lucasfilms. Two years years ago, Lucas also encountered opposition to his plan to sell land at Grady Ranch to a developer for affordable housing.

Lucas, who has owned land in Marin County since 1978 (that property is called Skywalker Ranch), said he would build the housing himself, but that project lost its financial backing in 2013. The Marin Independent Journal reported at the time that the costs for the project would fall somewhere between $120 million and $150 million.

Now, Lucas—whom Forbes estimates is worth $5.1 billion—says he will finance 100% of the housing project, according to Gary Giacomini, former county supervisor and an attorney for Skywalker Properties.

The initial reactions to Lucas’s latest proposal have been mixed, with one local supervisor worrying about the “cumulative impact” of a project that large on the community. Other supervisors see the proposal as an opportunity to make a dent in the county’s shortage of affordable housing. Thomas Peters, CEO of the Marin Community Foundation, called Lucas’ plan an “extraordinary offer” that underscores the filmmaker’s commitment to the housing needs of the vibrant workforce that drives the region’s vitality. (Ironically, the Foundation was the financial backer that bailed on Lucas’s housing plans two years ago.)

Lucas’s proposal call for 120 two- and three-bedroom workforce rental homes in one four-story cluster and two two-story clusters. There would also be 104 one- and two-bedroom residences for seniors in a four-story cluster, according to the Independent Journal. Zoning at Grady Ranch allows for up to 324 homes at this site, which is where Lucas had originally intended to expand his studio facilities.

The architect for this project is Robert W. Hayes of Sausalito, and the project is being coordinated and managed by PEP Housing of Petaluma, which developed Toussin Senior Apartments, an affordable complex that Hayes had designed.

Applicants for the workforce housing need to be earning less than 80% of the market’s median household income. The seniors applying for housing need to fall within 30% and 60% of that median. Quoting Census estimates, the Washington Post reports that 7.7% of the county’s residences live below its $90,839 median income level.

Related Stories

High-rise Construction | Feb 17, 2015

Work begins on Bjarke Ingels' pixelated tower in Calgary

Construction on Calgary’s newest skyscraper, the 66-story Telus Sky Tower, recently broke ground. 

Mixed-Use | Feb 13, 2015

First Look: Sacramento Planning Commission approves mixed-use tower by the new Kings arena

The project, named Downtown Plaza Tower, will have 16 stories and will include a public lobby, retail and office space, 250 hotel rooms, and residences at the top of the tower. 

Codes and Standards | Feb 12, 2015

New Appraisal Institute form aids in analysis of green commercial building features

The Institute’s Commercial Green and Energy Efficient Addendum offers a communication tool that lenders can use as part of the scope of work. 

Multifamily Housing | Feb 9, 2015

GSEs and their lenders were active on the multifamily front in 2014

Fannie Mae and Freddie Mac securitized more than $57 billion for 850,000-plus units.

Multifamily Housing | Feb 6, 2015

Fannie Mae to offer lower interest rates to LEED-certified multifamily properties

For certified properties, Fannie Mae is now granting a 10 basis point reduction in the interest rate of a multifamily refinance, acquisition, or supplemental mortgage loan. 

Cultural Facilities | Feb 5, 2015

5 developments selected as 'best in urban placemaking'

Falls Park on the Reedy in Greenville, S.C., and the Grand Rapids (Mich.) Downtown Market are among the finalists for the 2015 Rudy Bruner Award for Urban Excellence.

Multifamily Housing | Feb 2, 2015

D.C. developer sees apartment project as catalyst for modeling neighborhood after N.Y.'s popular High Line district

It’s no accident that the word “Highline” is in this project’s name. The goal is for the building to be a kind of gateway into the larger redevelopment of the surrounding neighborhood to resemble New York’s City’s trendy downtown Meatpacking District, through which runs a portion the High Line elevated park.

Multifamily Housing | Jan 31, 2015

5 intriguing trends to track in the multifamily housing game

Demand for rental apartments and condos hasn’t been this strong in years, and our experts think the multifamily sector still has legs. But you have to know what developers, tenants, and buyers are looking for to have any hope of succeeding in this fast-changing market sector.

Multifamily Housing | Jan 31, 2015

20% down?!! Survey exposes how thin renters’ wallets are

A survey of more than 25,000 adults found the renters to be more burdened by debt than homeowners and severely short of emergency savings.

Multifamily Housing | Jan 31, 2015

Production builders are still shying away from rental housing

Toll Brothers, Lennar, and Trumark are among a small group of production builders to engage in construction for rental customers. 

boombox1
boombox2
native1

More In Category




Legislation

Efforts to encourage more housing projects on California coast stall

A movement to encourage more housing projects along the California coast has stalled out in the California legislature. Earlier this year, lawmakers, with the backing of some housing activists, introduced a series of bills aimed at making it easier to build apartments and accessory dwelling units along California’s highly regulated coast. 

halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021