San Bernardino leaders on Wednesday, March 3, chose the team of Renaissance Downtowns USA and ICO Real Estate Group to redevelop the 43-acre Carousel Mall site.
Policymakers expect to affirm the move at a subsequent City Council meeting.
Once voted on at a later date, City Manager Rob Field will have six months to return to elected officials with the framework of an Exclusive Negotiation Agreement.
Such a pact could take up to 18 months to finalize.
Council members Theodore Sanchez, Sandra Ibarra, Fred Shorett, Ben Reynoso, Kimberly Calvin and Damon Alexander favored the decision.
Councilman Juan Figueroa opposed.
Having partnered before on other large-scale redevelopment projects, Renaissance and ICO have proposed converting the Carousel Mall site into a lively downtown hub by creating a more walkable, small-block structure where districts within the corridor have distinct characteristics.
The two intend to plant thousands of trees in the area, build up to 3,500 new residential units, include entertainment, commercial and office uses, and craft a Riverwalk that loops through the new development. Buildings will have green roof-top designs, with high-efficiency heating and/or cooling systems, the developers have said.
Beyond the mall, the firms want to incorporate other downtown areas into an expanded redevelopment project.
“We want to create a new market unlike any other market in the Inland Empire,” ICO principal Jian Torkan told council members in January, when his…