City Council Approves Downtown Development Plan
The City Council has unanimously approved a revised development plan for the downtown area after several months of debate. The plan includes new zoning for mixed-use development, provides incentives for affordable housing, and allocates funding for infrastructure upgrades.
- This approval builds on the Downtown Community Plan established in 2012, which provides the foundational framework for the 110-acre downtown area bordered by Mowry Avenue, Walnut Avenue, Paseo Padre Parkway, and Fremont Boulevard. - A significant portion of the infrastructure upgrades will be funded by a $296 million Capital Improvement Program, which is allocated for fiscal years 2023/24 through 2027/28 to improve transportation, parks, and civic facilities. - The plan is supported by a federal Opportunity Zone designation, which offers tax incentives to encourage investment and development in the area. - Recent projects under this plan include the 2021 opening of the Downtown Event Center and Plaza, which has hosted over 600 events in its first three years, and the completion of Fremont Bank's new 6-story headquarters in June 2024. - In April 2024, the City Council approved two major mixed-use projects led by Kimco Realty within the Fremont Hub and Gateway Plaza shopping centers, which are slated to add over 500 multi-family housing units. - To address affordable housing needs, Fremont is in the process of adding more than 560 affordable units across several projects, with developments like Bell Street Gardens (126 units) and Osgood North (111 units) expected to be completed. - The city's broader housing goals aim to accommodate nearly 13,000 new residential units between 2023 and 2031, with over 7,000 designated as affordable. - The development's retail strategy is demonstrated by the leasing of 11 ground-floor spaces on Capitol Avenue to local businesses and franchises, including Banter Bookshop, Din Ding Dumpling House, and Sliver Pizzeria.
