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a broad range of uses was made when vacancies were at a peak in downtown area. <br />Since that time, the local economy has rebounded, and there are very few empty <br />storefronts in downtown Redwood City. <br />City staff was approached by the Downtown Business Group, as well as several <br />residents, with concerns about the number of formerly retail storefronts that have <br />recently converted to office uses. The primary concern relates to ground floor office <br />uses taking away from the pedestrian experience. In today’s market, office space rents <br />for significantly more than retail space. This is due to the general lack of downtown <br />office space, and the high regional demand for office space near transit. Therefore, the <br />trend towards office uses would most likely continue as storefronts become available, <br />and if zoning requirements were to remain the same. <br />ANALYSIS <br />As noted above, historically, Main Street has been a key retail and pedestrian corridor in <br />Downtown Redwood City. Unfortunately, during the economic downtown, many Main <br />Street storefronts were vacant. The same was true for the City’s primary retail corridor, <br />Broadway. In an effort to prevent vacancies on Main Street, and concentrate new retail <br />uses on Broadway, the Downtown Precise Plan allows for a broader range of uses, <br />including office and health clubs. <br />Fortunately, since the time of the amendment, the economy has rebounded in a positive <br />direction. There are very few vacancies on Main Street or Broadway, and almost all <br />vacancies are filled quickly. On Main Street many vacancies have been filled with small <br />office tenants. This is particularly true on the north side of Main Street (closest to City <br />Hall). Other vacancies have been filled with more traditional Main Street uses that <br />would meet the definition of an active ground floor uses. <br />Office space generally rents for 50% or more per square foot than retail space. <br />Therefore, it can be expected that future storefronts would become office space if the <br />office demand continues and the Downtown Precise Plan remains the same. There are <br />several options the Council can consider: <br />· Council could request that staff bring forward a Downtown Precise Plan <br />amendment which would restore the “active ground floor use” requirement on <br />Main Street. Staff would first bring this amendment to the Planning Commission <br />for consideration and recommendation, and then back to the City Council for <br />adoption. This process would take 4-5 months for the resolution to become <br />effective. <br /> <br />· The Council could direct that the Downtown Precise Plan allow for offices (and <br />other non-active ground floor uses) on the ground floor, but only under certain <br />conditions. For example, office use could only be approved by the Zoning <br />8.A. - Page 2