AgdaPkt 2020-09-21 Joint SA PFA - Laserfiche WebLink

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8.A. - Page 10 of 21 4. 2300 Broadway Project Description: The project includes 200,000 sq. ft. office, 15,000 sq. ft. of retail space, and 5,000 sq. ft. of open space ('Redwood Grove') on the corner of Broadway and Hamilton. In addition to the on-site open space, the project would request to utilize a portion of Hamilton Street adjacent to the subject property, and Courthouse Square, to create a 15,000 sq. ft. plaza. The proposed building would be approximately 112 feet in height (9 stories) with the retail spaces located on Broadway and Hamilton. The proposal also includes a commitment to building a minimum of 40 off-site below market rate units at the low and very low income levels. • General Plan: Mixed Use —Downtown • Zoning: P (Downtown Precise Plan) • Existing Use: Bank (Chase) Strategic Priorities: The project addresses the Council's Strategic Priorities in the following ways: • 80 off-site below market rate units provided at the extremely low (8), very low (24), and low (48) levels (Housing); • Commitment to pay $40 per sq. ft. ($8 million) for affordable housing fee (Housing); • Jobs within downtown and in close proximity to Caltrain (Transportation); • Engage with youth groups to provide input on design and programming of open space, as well as including play space and family oriented amenities in the open space (Children & Youth) Discussion: The proposed project is located in the DTPP and would require a General Plan Amendment and DTTP amendment for additional office development. As currently presented, the project would require the closure and acquisition of public right-of-way (Hamilton Street) for a public plaza. This aspect of the project would need to be reviewed more in depth by the Community Development & Transportation and the Fire Departments to ensure that the closure would not affect City services or circulation. Note, the proposed off-site housing site was not known at the time of submittal, however the applicants have now proposed 80 below market rate units at 690 Price Avenue as part of the project. This site has a General Plan designation Commercial Office — Professional/Technology and is zoned Commercial Office. The General Plan and Zoning for this location does not currently allow residential development, and would need to also be considered for a General Plan and Zoning amendment. Figure 2 provides a map of the vicinity of the proposed off site affordable housing, which is surrounded by office uses. Staff advises further review of the feasibility of this site, so as not to create a singular project site that is not consistent with the proposed uses within the vicinity. The site and its vicinity are also within the proposed footprint of the proposed Central Redwood City Plan area. The applicants have indicated that the off-site affordable housing units would be operated in partnership with MiclPen Housing. Lastly, the proposal states that the programming of the public space areas would be determined collaboratively with youth groups. Page 10 of 15 . mmim . City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore 91