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4 <br /> <br />• Benefit Cost Analysis: 4.66 (Projects above 1.5 are typically compe��ve for <br />funding); in addi�on, the project benefits are significant in light of modest Right of <br />Way impacts. The Benefit Cost Analysis update prepared in 2023 can be found: <br />Documents/03 Funding Strategy & Plan/03.02 Applica�ons/2023 INFRA/Submited <br />Files <br />• Economic Impacts: The total quan�fied benefits, in discounted dollars, is over a <br />billion dollars ($1,160,154,934.) <br />A summary of quan�fied project benefits are as follows: <br /> <br />1.1.5. Addresses Regional Priority: Housing <br />Private developers have expressed interest in developing mul�ple projects near the <br />interchange and some are providing financial contribu�ons towards the Project’s right <br />of way and construc�on. Developments include the following: <br />• Harbor View (Link): This 27.08-acre site comprises of parcels that previously <br />included the former Malibu Raceway and Golf Course, industrial developments, <br />and a gas sta�on near the Seaport Boulevard/Blomquist Street intersec�on. The <br />development is a high-tech office campus with four 7-story office buildings, one 4- <br />story and one 6-story parking structure, and a two-story employee amenity <br />building. <br />• Broadway Plaza (Link): This 15.3-acre site is the redevelopment of the Redwood <br />Plaza Shopping Center. This mixed-use development will include 120 affordable <br />housing units, 398 market-rate units, 420,000 square feet of office space, 26,000 <br />square feet of retail space including a stand-alone CVS pharmacy (at 2111 Bay <br />Merit Criteria Economic Benefit <br />Popula�on Affected <br />by Impacts <br />Summary of Results <br />(7% Discount) <br /> Regional <br />Mobility <br />Travel Time Savings Exis�ng roadway <br />users <br />$1,070,868,166 <br />State of Good <br />Repair <br />Residual <br />Value of <br />Improvements <br />Redwood City $2,540,800 <br />Safety Safety Benefits Exis�ng Roadway <br />Users <br />$3,919,723 <br />Environmental <br />Sustainability <br />Reduced Vehicle <br />Emissions <br />Redwood City <br />Residents <br />$6,928,259 <br /> <br />Total Quan�fied Benefits in Discounted Dollars <br />(7% discount rate) <br /> <br />$1,160,154,934