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, �,�-85 <br /> III. DESCRIPTION OF EXISTING ENVIRONS <br /> Description of Existing Environs • <br /> The Project will be constructed on one bbck in the heart of the downtown Redwood City <br /> commercial district. The Project will front on Broadway, a major downtown sVeet, and will be <br /> in direct proximity to the Caltrain station, the Sequoia Station shopping center, the City Hali <br /> offices, and County offices. The location is an undenrtil¢ed portion of the downtown. The area <br /> was included in the Amended Redevelopment Project Area created in 1989. The Project site <br /> contains structures more than 50 years old and of a substandard design given present <br /> standards and market conditions. These structures have proved to be nonproductive and a <br /> deteriorating influence on the value of other properties in the Projed Area. Many of the parcels <br /> comprising the Project site are of an irregular shape, inadequate s¢e, and in muftiple <br /> ownerships, such that development has been hindered for many years. <br /> The assembly of these parcels and construction of the public parking garage into the Project <br /> will achieve a resuR fhat could not be achieved by the private sector acting alone. Removal of <br /> the substandard structures and their replacement by new buildings will lead to utilization of an <br /> underutilized portion of the downtown. It is expected that the Project will be a catalyst in the <br /> continued revitalization of the downtown and create momentum for additional business <br /> opportunities and investment in the downtown area. <br /> � Keyser MarsWn Associates, Inc. <br /> �8610.00�1017-023.tloc Page 5 <br />