A deal on the retail-residential building Sycamore North could be ready by the February 14 City Council meeting, said a put out this week by City Manager Steve Duran.
“There will be a few contingencies to be met before closing, related to some proposed changes on the ground floor that the buyer is currently finalizing and costing out. The buyer is hiring the original project architect to complete the design work and is in negotiations with the original contractor to complete the building,” the report said.
The project was first intended to hold a high number of affordable housing condos. It was then on its way to being sold to a nonprofit that would use all of its 96 residential units as affordable housing.
Hercules citizens, especially those living near the building, voiced their fears for the fate of Sycamore North to city staff in July, shortly after the building was put on the market. Following pushback from residents, the city put Sycamore North up for sale with all or majority market rate housing.