City Eyes Sears Location for Transit Hub

By Olin Ericksen
Staff Writer

June 13 -- What is now an auto repair center for Sears may eventually become the last stop for the light rail expected to roll into Santa Monica over the next decade.

City council members Tuesday are expected to authorize the city manager to soon execute a $35,450,000 land deal with Sears to purchase nearly $130,000 square feet at 402 Colorado Avenue, bounded by Olympic and Colorado and 4th and 5th Streets.

In a move that could transform the building from a current center for autos to a future center for pedestrians, City council members are indicating the property could become a key piece in bringing a mass-transit line to Santa Monica and Los Angeles.

“The entire block has been identified as a suitable location for future development of a public purpose project which could include a light rail transit terminus, public parking, affordable housing, and supportive commercial uses,” notes the staff report.

However that will mean a future environmental review because the city is purchasing the property as is for the time being, according to the staff report.

The proposed deal will be the next step in acquiring the property, which city staff has negotiated since September 2003.

According to the staff item, “Sears would lease back the property from the City for three years, with two automatic renewals of one-year each, subject to termination by either party with 90-days notice.”

In addition, Sears would also pick up the tabs for any clean up and will also pay escrow title fees.