Pike Site Development Negotiations Extended

The Redevelopment Agency board has extended the negotiation period with developers studying projects for the 13-acre site of the former Pike amusement park.

Various options for the site are being studied and a master plan is expected to be presented in June by the developers, Pike Property Associates, according to redevelopment agency staff. The group is a joint venture between the Ratkovich Co., Enterprise Development Co. and Copley Realty Advisors.

Last June, the developers and the agency signed an exclusive negotiation agreement that expired in January. Under the extention granted last week, the agreement will be extended to Dec. 1.

“Because of the unique nature of the project, additional time is needed by the developer and the agency . . . ,” states the staff recommendation to the board.

The developers own 95% of the old Pike site at the foot of Pacific Avenue and were reported to be negotiating to acquire the last five remaining parcels.