Agmt07 Mundie and Associates - Peninsula Park Study 650 Bair Island Rd

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Proposal to the City of Redwood City for Peninsula Park Studies January 23, 2007 Page 2 The housing units would be located in buildings of varying heights, ranging from two-story town homes to six- and ten-story structures. The overall density would be about 35 units per acre if the park area is included in the calculation, and 40 units per acre if it is not. Additional features of the proposed project include: Traffic-reducing measures: measures to encourage residents to drive fewer miles, or to select residents who are likely to drive fewer miles. These measures include offering for-sale priority to households with at least one worker who is employed within four miles of the site. The inclusion of neighborhood-serving retail may also reduce the need for project residents to drive. Additional measures are implied in but not named by the RFP. Water conservation measures: utilization of the City's reclaimed water for all exterior irriga- tion and for toilet flushing in the hotel and retail space. Other "green" building practices: use of green roofs and, possibly, other design features. Issues Identified in the RFP The RFP identifies four areas of concern that this set of studies should address: Economic impacts. The City has identified two topics on which the economic analysis should focus. ^ Is the retail component of the project appropriately sized? The retail space should be large enough to accommodate one or more outlets that would respond to the most fre- quent needs of the residents, such as convenience stores, groceries and household goods, food service, and perhaps laundry/dry cleaning. At the same time, it should not be so large that the amount of space available will exceed the amount that can be sup- ported by residents of the project site, users of the marina, and perhaps the residents of nearby residential areas (e.g., the project farther north on Bair Island Road and, poten- tially, housing that could be built on the Century 10 site if it is redeveloped into residen- tial use). ^ What are the effects of the traffic-reducing housing measure(s)? The RFP indicates that the project sponsor intends to incorporate features into the project that could reduce the number of vehicle miles traveled by residents. The only measure specifically identi- fied in the RFP is the possibility of giving preference on unit sales to purchasers who work within four miles of the project site, but the RFP notes that "other measures along these lines are also proposed," and indicates that a traffic consultant has been engaged to estimate the potential reduction in vehicle miles traveled. Two lines of economic inquiry are potentially involved: (a) Community benefit. To what degree would such measures result in overall bene- fits to the community? Such benefits might include, for example, reduced traffic congestion, reduced gasoline consumption, and reduced vehicle emissions. If these types of benefits can be quantified, they may encourage other projects to consider including them as well. (b) Project value. To what degree would the imposition of buyer qualifications (e.g., place of work or other restrictions) affect the sales prices of the units? Typically,