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Appraisal: APN 053-182-030, S.E. Corner of Maple & Lathrop Streets, Redwood City, Calif.Page 26 <br />2025CNA112 <br />on its shape, frontages, and usable area, the subject property development utility <br />rates below average. <br />Legally Permissible <br />The subject parcel is General Planned Mixed Use Corridor and has a zoning <br />designation of Mixed Use Commercial El Camino Real District. These <br />designations are primarily intended for developments of commercial, residential, <br />or a combination of both. Density is restricted to 80 dwelling units per acre and <br />maximum height varies from 4 to 6 stories. A community garden or other open <br />space use is not a legally permissible use under the zoning code. <br />The zoning code calls for any development to be 30 feet from the centerline of <br />any creek. This was verified by William Chiu, Senior Planner at the time of the <br />previous appraisal. However, due to <br />restriction is already accounted for. <br />Although most types of commercial, residential, or mixed-use development would <br />be legally permissible, the shape and usable area of the subject would only <br />support a building with a small footprint. Despite the parcel constraints, the fact <br />that parking can be reduced and partly or fully offset by the payment of parking <br />in-lieu fees, would permit a greater range of design possibilities. Additionally, the <br />subject property may become part of the DTPP, for which no off-street parking <br />would be required, which would further increase the development potential of the <br />site. Therefore, based on the physically possible and legally permissible uses, the <br />subject is best utilized for the development of a small commercial or mixed-use <br />building. The subject could also be utilized as a vehicle parking lot. <br />Financially Feasible/Maximally Productive <br />The subject last transferred from a private owner in 2001. The historic use(s) of <br />the subject has been for vehicle storage, whether for auto dealerships, or <br />construction staging/storage yards. On the date of value, it appeared to be being <br />utilized for construction storage related to the Elco Yards development. Due to <br />the scarcity of parking in and around the downtown area, this remains a <br />financially feasible use. <br />From a development standpoint, very limited commercial/mixed-use development <br />would be supported given the shape and developable area of the property. There <br />8.K. - Page 74 of 105 <br />324