Another Campbell Developer Asks for More Time in Down Economy

The Campbell Planning Commission received an extension of time request at last week's regular meeting from another local development project in need of more time to finance its construction while the economy recovers.

"What we've seen on these projects is the inability for the developer to receive financing for construction loans, which has limited their ability to move forward," said Steve Prosser, Campbell's associate planner on the project. "We've seen a few [developers] come back for a ," he said.

The project, at 45-67 Kennedy Ave. between Winchester Boulevard and Industrial Way in Campbell, would involve demolishing four rental units on two properties to develop four new small-lot single-family detached residences for ownership, Prosser said. 

The two-lot construction site would be divided into five lots, according to project plans, Prosser said, and then developed into four residential lots that share a fifth lot for a driveway and parking (see photo). 

Most of the planning commission’s time approvals to keep a project of this size active are two years, Prosser said. Despite the three-year time extension requested by project developers, David and Janean Sousa, the commission recommends a financial extension until Jan. 6, 2013, which corresponds with the project's parcel plan extension with the state.

The planning commission recommended the new timeline to the Campbell City Council, which will make a formal decision on June 21.