FOOTHILL SEEKS FOOTHOLD

Foothill Partners continued its local roadshow with a stop in Independence to visit Inyo Supervisors at their regular meeting Tuesday. 

Foothill is the outfit seeking to develop the ‘old old,’ 27-years vacant Kmart property on Main Street in Bishop next to Taco Bell. The proposal:

• Demolition of the existing structure

• Construction of approximately 104 modular, workforce-oriented studio units

• Reuse of an adjoining small commercial building for food and beverage tenants

• Development of three new quick-service restaurant pads along Main Street

The studio units are proposed to be 500-square feet. 

Foothill wishes to seek out local partners such as the county, hospital district, et. al. to “pre-lease” its development. Meaning, they want local entities to commit to renting a certain number of units to guarantee occupancy. 

Project Principal Doug Miele suggested two public agencies and two major (private) employers are already on board.

The pre-leasing is meant to assuage moneyed investors, because, you know, who else calls the tune these days? 

The suggested lease price: $1,800/month (utilities not included). 

“They need to pay utilities otherwise they’ll stand in the shower all day,” quipped Miele. 

The lease term: Three years. 

Maximum occupancy: Two people per unit. 

Foothill expects to close on the property this fall, and anticipates an 18-24 month build. 

Miele estimated the construction price tag at $30 million. 

Supervisor Jeff Griffiths said he “loved” the project and predicted Foothill would achieve “ironclad” community support … if it brought in an In-N-Out Burger to lease one of its restaurant pads. 

Supervisor Scott Marcellin acknowledged that the project will effectively serve to house Mammoth workers. 

“The staff of Mammoth is coming to Bishop,” he said. 

“Fascinating concept,” said Board Chair Trina Orrill.

“Neat concept,” chimed in Supervisor Jen Roeser. 

“Interesting concept,” said Marcellin. So interesting that he said “interesting concept” twice. 

Supervisors directed staff to gather more information. They have made no financial commitment at this time.