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The proposed project consists of: <br />Proposed Demolition: <br />· Full demolition of the existing 123,193 square foot (s.f.) commercial strip mall, <br />which includes CVS, Foods Co., Office Max, Big Lots, and several smaller <br />commercial/retail establishments. <br />Proposed Construction: <br />· 420,000 s.f. office <br />· 400 residential units (studio, 1 bedroom and 2 bedroom units) <br />· 15,000 s.f. retail (stand-alone CVS store) <br />· 3,800 s.f. retail (are to be determined) <br />· 1,794 parking spaces for the office and residential uses in a shared, underground <br />parking facility <br />· 51 surface parking spaces for the retail uses and guests/visitors <br />· Public open space (1.56 acres) <br />· Private open space (0.96 ac. residential uses, 0.67 ac. office uses) <br />The project site has a General Plan Land Use Designation of Mixed Use – Corridor. For <br />a mixed-use project, the General Plan allows a maximum residential density of 60 <br />du/acres, maximum commercial intensity of 1.0 FAR, and a maximum height of 6 <br />stories. <br />As noted above, the project site is in the Mixed Use Corridor – Gateway Broadway <br />(MUC-GB) zoning district. The MUC-GB zoning district allows for various uses, <br />including residential, office and retail. Based on the 2016 submittal documents, the <br />proposed project would not require an amendment to the Zoning Ordinance or the <br />General Plan. <br />Affordable Housing Option A: Payment of Affordable Housing Impact Fee <br />The proposed Broadway Block project would be subject to the Affordable Housing <br />Ordinance (the “Ordinance”). Based on the square footage of the proposed residential <br />units, office and retail uses, the project applicant would be required to pay <br />approximately $15 million dollars to satisfy the Affordable Housing Impact Fee <br />described in the Ordinance. The Ordinance also allows project applicants to provide <br />affordable units on-site or off-site in lieu of paying the impact fee. <br />Affordable Housing Option B: Construction of Affordable Units <br />The Applicant is aware of the City’s preference to get affordable units built and occupied <br />as quickly as possible. The Applicant, therefore, is proposing an option that could allow <br />7.A. - Page 3