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7.A. - Page 22 of 41 _ <br />providing affordable housing that exceeds the 15% Downtown Precise Plan requirement with an <br />aspirational target, ideally, of providing a 100% affordable project on the Sequoia Station property. <br />Long-term environmental sustainability was also identified as a critical project component, and <br />Lowe for that reason has brought on a sustainability consultant to explore how to maximize <br />efficiencies and incorporate sustainable designs into the project. These are a few examples of the <br />key issues identified and reflect the voices of Redwood City. If the General Plan Initiation request <br />moves forward, Lowe will continue to engage with the community and will integrate their thoughts, <br />ideas and concepts into the development proposal. <br />GENERAL PLAN AMENDMENT INITIATION REQUEST <br />SUMMARY <br />The Downtown Precise Plan includes development caps that have generally been fully utilized, <br />requiring an amendment to the General Plan. While the caps have been reached, the underlying <br />framework or development remains, and is in fact enhanced by policies and guidance included in <br />the 2017 EI Camino Corridor Plan. These two plans provide an excellent framework for future <br />development within a Transit Sub -Area bounded by Sequoia Station, the Caltrain parcels and <br />Broadway. <br />Development regulations and guidelines within the DTPP and EI Camino Corridor Plan would largely <br />remain intact, with changes proposed that are specific to transit -oriented development and other <br />public improvements, including exploration of increased development capacity, additional height <br />on a portion of the properties, and reduced parking ratios to be more in-line with shared uses and <br />transit -oriented developments. <br />DTPP Transit Center Sub -Area Development Capacity <br />Existing, Potential, and Proposed SF and Floor Area Ratios (FARW <br />Existing SF/Units <br />Total <br />Potential DTPP SF <br />Proposed SF <br />Sequoia Station 175,000 SF <br />3,910,000 SF <br />up to 1,790,000 SF <br />Transit Center N/A <br />720,000 SF <br />up to 245,000 SF <br />Perry' N/A <br />105,000 SF <br />N/A' <br />'All numbers exclude parking <br />2Transit Improvement (TBD) <br />'Portion of Perry parcel is in CalTrain Right -of -Way <br />11901 Harrison Street, Suite 1430, Oakland, California 94612 510.669.5882 www.lowe-re.com <br />216 <br />Existing FAR <br />Potential DTPP FAR Proposed FAR <br />Sequoia Station <br />0.33 <br />7.4 3.4 <br />Transit Center <br />N/A <br />6.3 2.4 <br />Perry' <br />N/A <br />0.9 N/A2 <br />'All numbers exclude parking <br />2Transit Improvement (TBD) <br />'Portion of Perry parcel is in CalTrain Right -of -Way <br />11901 Harrison Street, Suite 1430, Oakland, California 94612 510.669.5882 www.lowe-re.com <br />216 <br />