The Crestmoor Property
At their March 12, 2020 meeting the San Mateo Union High School District Board of Trustees approved a process to seek statements of qualifications from real estate developers to lead the purchase and development of the Crestmoor Property, located at 300 Piedmont Avenue in San Bruno. Following these steps, the District’s real property consultants, DCG Strategies, transmitted a Request for Qualifications (RFQ) on behalf of the District to real estate brokers and developers. Additionally, the RFQ was posted online with premium listings on large commercial real estate search platforms and on the DCG Strategies website. The purpose of the RFQ was to identify qualified entities that would be invited to submit proposals to purchase the Crestmoor site. DCG Strategies received responses to the RFQ on April 24, 2020.
On May 21, 2020 the Board’s Property Committee, DCG Strategies, and District recommended, that eight entities were deemed as qualified to receive a Request for Proposals (RFP) to submit purchase proposals. The Board affirmed this decision and approved the release of the RFP to the eight entities at their August 6, 2020 meeting. At their September 10, 2020 meeting the San Mateo Union High School District Trustees reported that they had received proposals to purchase the property from six of the eight entities that the Board previously deemed qualified through the request for qualifications process.
The six entities that submitted proposals are:
These proposals were forwarded to the Board’s Property Subcommittee for further analysis at the Subcommittee’s meeting. After analysis of these proposals, the Subcommittee will report back to the Board, and the Board will further discuss the proposals and its selection of a preferred buyer at future Board meetings.
On August 4, the District hosted a virtual public engagement meeting to share with the many interested parties an update on the process for the sale of Crestmoor.