Los Altos developer Craig T. Lund is increasing his footprint in Anderson’s south end with a purchase of slightly more than 10 acres of commercially-zoned property acquired from a bank.
The three vacant parcels, all adjacent to the Wal-Mart Super Center in Anderson, were previously owned by Henry Willms and the Willms Family Trust, but had fallen into foreclosure, Lund said Wednesday in announcing the purchase.
“We closed on that (deal) two or three weeks ago. It went very quickly,” said Lund, founding partner of Lund Financial Corp.
“I have not yet started marketing this project. I am still drawing up my marketing plan, but already, we have been contacted by three people who are interested in putting in businesses there,” Lund said.
In December, Lund closed a deal with the same bank for 350 acres or 94 buildable lots of residential property in The Vineyards of Anderson subdivision just up the hill from his recent purchase, tentatively dubbed Vineyard Plaza.
“We are going to solicit business that will complement, not detract from, the Wal-Mart shopping center,” Lund said of his very preliminary plans to market the property to commercial interests.
“Our services are going to cater to the up-scale residential area that we are developing in The Vineyards. I foresee a restaurant, stockbrokers offices, maybe even some boutique retailers. It’s a perfect location for a hotel to service the I-5 traveler as well as the communities of Redding and Anderson,” Lund said of the largest 7.3-acre parcel, just north of Pleasant Hills Drive.
Another project Lund is exploring is a gas station with mini-mart on the 1.66-acre triangular parcel between Highway 273 and Rhonda Road, south of Pleasant Hills Drive.
Lund is encouraged to move quickly on developing his commercial properties even as his residential lots are just beginning to come back on line because of the economic turnaround that is taking place in the San Francisco Bay Area and Silicon Valley.
“The Bay Area and my region are blisteringly hot in terms of residential sales and development,” Lund noted. “It’s startling how fast this turnaround happened. There is so much pressure on the bank industry that has healed after the housing bubble burst in 2007. They are looking everywhere for opportunities to invest.”
Anderson City Manager Jeff Kiser, who worked closely with Lund on acquiring the foreclosed properties, hopes to see significant changes in that area of town during the next few months.
“We are excited to see that property back in the hands of a developer who is poised to do something significant with the land,” Kiser said.
Kiser said he expects even more commercial development nearby as the city and the California Department of Transportation (CalTrans) complete construction of the new northbound Interstate 5 off-ramp and $6 million roundabout at Deschutes Road and Shasta Outlets Drive.
“The city is going to be interested in promoting commercial development there as the roundabout and off-ramp are completed later this spring or early-summer,” Kiser said.