Cal Poly Pomona has informed the CSU Board of Trustees that it will enter into discussions with FivePoint Holdings LLC. The discussions are intended to lead to an outline of the terms of an agreement and a preliminary exclusive negotiation agreement between the university and FivePoint. Subject to final approval by the board, the documents will provide the basis for the negotiation of a final agreement to develop Campus South, the 287-acre site formerly known as the Lanterman Developmental Center.
FivePoint, based in Aliso Viejo, Calif., develops mixed-use master-planned communities and is a publicly traded company on the New York Stock Exchange. (NYSE: FPH)
The university’s selection of FivePoint, noted on the Board of Trustees agenda on July 24, came after a months-long process that began in the fall of 2017 with the issuing of a Request for Qualifications and a Request for Proposals. Cal Poly Pomona sought experienced development teams with a strong understanding of and appreciation for the university’s mission as well as a sensitivity to campus priorities and needs of the surrounding communities.
A committee consisting of several campus constituencies and a member of the Pomona city manager’s office reviewed the proposals in consultation with the CSU Chancellor’s office and selected four firms for campus interviews. From that process, FivePoint was selected.
All development projects will be presented for approval at future meetings of the Board of Trustees. In addition, any related environmental documents, master plans, amendments to the capital outlay program, schematic plans, financial plans and other key business points will be presented for Board approval.
On- and off-campus constituents and stakeholders will be given opportunities to provide input about development proposals. Cal Poly Pomona plans to use the site to support its academic mission and benefit the surrounding communities.
Information about how Cal Poly Pomona came into possession of the Lanterman property is available at the Cal Poly Pomona website (CPP.edu/lanterman).