CARLSBAD, CA—Voters are preparing for a special election on Feb.23 to determine the fate of the controversial mixed-useAgua Hedionda 85/15 Specific Plan project spearheaded bydeveloper Caruso Affiliated. AsGlobeSt.com reported in August, the planreceived unanimous approval by the Carlsbad CityCouncil after six hours of presentations, public commentand deliberation. However, considerable opposition to the plan bysome local groups overturned the approval by referendum and hasspurred the special election, which could help make or break theproject. While GlobeSt.com to date has been unable to get commentsdirectly from Caruso on the project, we spoke exclusively withLee & Associates broker BlairHavens, an expert on development in the Carlsbad market,on the subject.

GlobeSt.com: What can you tell us about Measure Aand the Agua Hedionda 85/15 project?

Havens: The proposed 85/15Agua Hedionda South Shore Specific Plan, otherwise knownas Measure A, is another landmark project on theminds of Carlsbad residents. The project proposes to use 27 acresfor commercial space while preserving 127 acres for open space andrecreational use where the strawberry fields are now along CannonRd. and Interstate-5. Caruso Affiliated, a major developer out ofLos Angeles, whose portfolio includes similar high-endentertainment centers including the Grove in LosAngeles, has outlined a plan which includes an open-airmall build out, improving and maintaining the open spacefor public use and self-funding the traffic improvements. Theproject will be at no out-of-pocket cost to Carlsbad residents. Inaddition, the city of Carlsbad stands to gain $11.3 million in cityfees and $2.6 million in net revenue annually to the city fund. Theproject was originally approved by the city council previously thisyear, then overturned by a referendum by Carlsbad residents. Thereferendum was passed and forced the council decision to beoverturned. Now, the Carlsbad residents will vote to decide thefuture of the project in a special election on Feb. 23.