Under terms of a preliminary agreement expected to be approved by the district board, Castleridge Property will sell the land to the EBRPD for $2.2 million, $200,000 less than the property's valuation.
"This is great news," said Pleasanton City Manager Nelson Fialho. "We've been working with EBRPD for several years to see this accomplished."
Fialho said the property is directly adjacent to the Alviso Adobe and provides direct access to the Pleasanton Ridge.
The topography of the property is rolling to steep and elevations range from 440 feet along Old Foothill Road to almost 1,500 feet along the ridge tops. From the highest vantage points, hikers will be able to see the Mount Diablo Range, San Francisco Bay and the entire Tri-Valley.
The landscape is dominated by the oak woodland plant dotted with patches of shrubs and grassland. The site also boasts native bigleaf maples, California sycamores and Pacific madrones.
The acquisition gives the site permanent protection and allows EBRPD to expand the Pleasanton Ridge park. This will add to the more than 8,800 acres that have already been preserved in the Pleasanton hills by the East Bay Regional Park District.
Robert E. Doyle, general manager of the EBRPD, said the proposed funding date for the acquisition will be Dec. 1 with the land to become part of the Pleasanton Ridge park on March 3, 2014.