Post on 24-Dec-2015
Background – El Camino
General Plan calls for • New and upgraded retail along El Camino• Small-scale office in balanced pattern
with residential, retail
Consultant Memo justifying standards and thresholds, concluded:• New Base threshold essential to
stimulate development• Office uses unlikely, even in mixed use
projects on both small and large parcels
Specific Plan EIR and Financial Impact Analysis – illustrative 30 yr.
plan
Office 17%
Hous-ing
67%Retail
6%
Hotel10%
The Old Rules Work in Today’s Market
Projects approved under pre-Specific Plan rules are being built:• 389 ECR – housing (100%)• 1460 ECR – housing (47%) and office (53%)• 1706 ECR – medical office (100%)
Observations: Old maximum standards are adequate to stimulate ECR developmentOffice – 100% OR mixed use - “pencils”, even at prior allowed levels
Stanford Project Example
Office 64%
Housing33%
Retail 3%
November 2012
Office 43%
Housing55%
Retail 2%
April 2013
Office uses quickly became most desirable to developersAbility to influence project makes a big difference, but ability to negotiate not part of Base level
Base level standard
Office 25%
Housing52%
Retail 14%
Health Club9%
Prior Projects
Office 49%
Housing46%
Retail 5%
Current Proposal
Office is most desirable use to developers, even more than before Housing and Retail uses are crowded out by office
Greenheart Example
Total SF Office SF Housing SF Retail/Restaurant SF Health Club SF -
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
Prior 1300 ECR Project, Derry Proposal Greenheart Proposal
Project Element
Squa
re F
eet
58% Increase
196% Increase 20%
Increase
35% Decrease
100% Decrease
Proposal Increases• 60% Larger than Prior Projects• 50% More Housing Units
Proposal Reduces• Housing/Office SF ratio
from 2:1 to 1:1 • Retail by 1/3• Eliminates Health Club
Former Cadillac site subject to lawsuit; prior project approvedOriginal Derry project subject of referendum; negotiated project resultedCurrent project much larger with nearly 200% more Office. May require new EIR less than 1-1/2 years into a 30 year plan
Greenheart Example Details
Office 64%
Housing33%
Retail 3%
Office 49%Housing
46%
Retail 5%
Conclusion: Specific PlanIsn’t Achieving Its Vision
Greenheart Project
Stanford Project
Office 17%
Hous-ing
67%Retail
6%
Hotel10%
Honor the 5 year Specific Plan process and Vision
Support the adopted Housing Element
Respect the General Plan
Follow Sierra Club/Save Menlo’s Recommendations:* Office maximum of 25% Base* Funding plan for public improvements
Lower the Base threshold* Encourages Vision* Structures negotiations
Recommendations To Make the Specific Plan Work Better
Revisit in ONE YEAR