Title
Presentation of 2026 California Association of Local Economic Development (Caled) Award of Excellence for Collaboration in Real Estate and Finance to the City of San Leandro and B3 Investors for the Speedway at Bayfair Project
Staffreport
COUNCIL PRIORITY
* Economic Development
* Infrastructure
SUMMARY
The City of San Leandro & B3 Investors have earned a prestigious statewide Award of Excellence for Collaboration in Real Estate and Finance from the California Association for Local Economic Development (Caled). The award is for the transformation of Bayfair Mall into a mixed-use and transit-oriented innovation campus, now known asSpeedway at Bayfair.
Named after the original racetrack at the location, Speedway at Bayfair is transforming Bayfair Mall into a transit-oriented and mixed-use job center. Owners B3 Investors are converting 400,000 square feet at the rear of the mall into flexible workspace supporting technology, healthcare, and education employers. In an example of creative reuse, the owners are converting former retail space into new, modern tenant spaces and amenities.
Speedway tenants include innovative businesses Berkeley Yeast, Vantage Robotics, and Reforge Robotics, an expanded facility for Carrington nursing college and San Joaquin Valley Colleges, and a new facility for Asian Health Services coming in 2027. Phase I of the project is expected the support over 400 jobs, bringing higher-paying jobs and enhancing the customer base for nearby retailers.
B3 and Gaw Capital Partners have allocated $33 million to invest in the Bayfair Mall property. The City has acted as proactive facilitator - assisting with entitlements and obtaining $2.4 million in regional transportation and planning grants to support improved site layout and infrastructure. This blended structure uses limited public dollars to unlock substantial private investment, maximizing return on public investment while containing risk.
The City's work in the Bay Fair area be...
Click here for full text