AgdaPkt 2013-07-22 - Laserfiche WebLink

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7.A. - Page 2 ANALYSIS The project proposed by the developers and recommended for approval by the Planning Commission is an approximately 300,000 square feet office development, with an additional 5,075 square feet of retail (planned as restaurant space), and 904 parking spaces. The two office towers sit on the parking podium; one of the towers is six floors of office space, while the other is four floors of office space. The restaurant space is at the northern end of the project, in the shorter of the two office towers, and fronts on what will be a new public plaza connecting the Caltrain station with Downtown. The building architecture is consistent with the requirements of the Downtown Precise Plan. The architecture is generally described as classical, in that it evokes the brick material of the Library (former Fire Station) and the massing and fenestration provide a comfortable feel of old warehouse buildings similar to those being redeveloped in high tech meccas, such as San Francisco's South of Market Area. Parkinq Pursuant to the Parking Facilities Agreement (PFA) dated July 12, 2004 connected with the development of the Century Theatre Project (Block 1 development), this development of Block 2 is required to provide an equivalent number of parking spaces as are on the existing surface lot (211) upon the completion of the project for nights and weekends pursuant to Section VII of the PFA. However, as documented in the DDA, the developer has agreed to provide 290 public parking spaces for nights and weekends subject to the parking validation program. In exchange for the additional parking spaces, the parties involved (Century Theatres, On Broadway, Hunter/Storm and Kilroy Properties) have agreed to meet and discuss mutually beneficial promotional and marketing strategies for the development and Downtown Redwood City. The agreement to increase the number of public parking spaces from 211 to 290 was reached after the Planning Commission's review of the project. Additionally, in accord with the Downtown Precise Plan, the remaining 614 parking spaces must also be made available to the general public on nights and weekends because the developer chose to build shared parking at a three spaces per thousand square feet of development, rather than the zoning code requirement of six spaces per thousand square feet. The decision to build the parking at the lower ratio not only encourages shared use of parking in the Downtown, it prevents the project from simply becoming a parking structure with minimal business or retail development. Also in accord with the PFA, the City is required to provide a parking survey to the Theatre prior to construction on Block 2. The City undertook such a parking survey to determine availability of parking in the Downtown. That study evaluated three peak event days and also looked at the overall parking supply in the Downtown. The survey results were provided to the Theatre and on Friday, June 28, 2013 representatives of the Theatre requested that the City evaluate additional days. Those days for study extend beyond the timing of this recommended Council action, but will be completed prior to the start of construction, which is consistent with the requirements of the PFA.