Poll: Should Hercules Sell Sycamore Crossing to Safeway for $5 Million?

Hercules City Council will discuss a proposal Tuesday to sell 11.2 acres of land to Safeway for $5 million. 

If the city council votes to approve the sale, the proceeds will pay debts owed by the former Hercules Redevelopment Agency. Analysts hired by the city reckon profits from a sale would range from $2 million to $3 million, depending on the final cost of removing dirt and putting utilities underground. 

Situated near Sycamore Drive and San Pablo Avenue, the parcel is commonly known as Sycamore Crossing and has long been slated for development of some sort.

Safeway's current plans call for a one-story supermarket with roof-top parking on the front side of the property at Sycamore Drive and San Pablo Drive. The plans also call for a gas station on the site as well as other retail establishments.

Consultants estimate that a grocery store at the site will bring the city between $14 million and $40 million over 30 years. The higher figure hinges on renewals of Measures O and A.