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. 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. At their August 6, 2020 meeting, the Board approved the release of the RFP to the eight entities. 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 District’s Property Committee made up of two Board Members and staff reviewed the applications and conducted interviews with the top firms.
At their October 8 meeting, the Board selected D.R. Horton as the preferred entity with whom it will negotiate a purchase agreement following a unanimous recommendation of the property subcommittee. The Board based this decision on several factors. D.R. Horton’s offer for the property was the highest received. D.R. Horton is a nationally recognized home builder that has experience with the City of San Bruno. Additionally, the subcommittee identified D.R. Horton as well qualified to listen to the needs of the community and to propose a residential development that can be approved by the City of San Bruno. District staff, our real property consultants and legal counsel will commence negotiation of the terms of the purchase agreement, which will be returned to the Board at a future meeting for consideration and possible approval. The terms of that agreement will be made publicly available when complete.
While we are in the early stages of the sales process, the District is committed to open and transparent communication with and engagement of the community and our staff around this sale and the development of staff housing. We will continue to provide updates on this process.