Tiburon Open Space Acquisition in Final Phase

The Martha Co. property in Tiburon on June 26, 2024. The Trust for Public Land expects to close on the land by mid-September. (Sherry LaVars/Marin Independent Journal)

The deal to acquire over 100 acres of coveted land on the Tiburon Peninsula is nearly complete.

A $5.5 million grant from the California Wildlife Conservation Board to buy the Martha Co. property was frozen until the state budget was set. When Gov. Gavin Newsom signed the budget on June 29, the funding became available.

“We’re really pleased not only to be able to donate the money, but also that it’s happened sooner than expected so people can close on these properties and do the restoration work,” said Jennifer Norris, executive director of the California Wildlife Conservation Board.

The grant was awarded to the Trust for Public Land, a San Francisco nonprofit, in May to purchase the 110-acre property, which will have four major public trails offering panoramic views of San Francisco Bay. The Trust and the group Tiburon Open Space spearheaded the project and raised funds to purchase the property.

“This was long-awaited, great news,” Jerry Riessen, president of Tiburon Open Space, said of the grant.

California Wildlife Conservation Board grants support Newsome’s goal of protecting 30% of the state’s land and coastal waters by 2030.

Dave Sutton, environmental director for the Trust for Public Land, said that now that key funding has been secured, the final stage of “due diligence” is underway, which includes directing multiple public and philanthropic funding sources into escrow. The trust plans to acquire and deed the property to the Marin County Open Space District in mid-September.

The property owners, the Reed family, have set the sale price at $42.1 million. The Marin County Open Space District, which will take over management of the property, has agreed to contribute more than $29 million. Other sources of financing include $3.2 million from various philanthropic organizations, $1.5 million from the Moore Foundation and $1.5 million from the California Natural Resources Agency.

“As time runs out for the public to acquire this property, WCB’s timely support marks a key moment in a 30-year effort to preserve this cherished landscape,” said Guillermo Rodriguez, state director of the Trust for Public Land. “This project is not just about preserving breathtaking views; it is about protecting important habitats and providing access to green spaces for generations to come.”

The trust fund will not need the additional $1 million that Tiburon pledged in April. Tiburon previously pledged $1 million in 2022, and Belvedere pledged $125,000 in April. Riessen said the funding gap is less than $20,000.

The conservation of the Tiburon Ridge property, which is adjacent to Old St. Hilary’s Preserve and Tiburon Uplands Preserve, will create 256 acres of continuous open space to protect biodiversity. The area has many rare and special species, including Marin dwarf flax and serpentine reed, and is also habitat for the California red-legged frog, hawksbill shrike and northern harrier.

Tiburon Mayor Alice Fredericks said she was thrilled to hear the state funding was awarded. At a time when cities are struggling to meet growing demands and state housing requirements, she said open spaces like the Martha property are a “treasure.”

“As wonderful as the recreational and environmental resources of places like Martha’s are, walking that ridge reminds each of us of the fragile systems that sustain us,” Fredericks said.