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VIL CONCLUSIONS <br />Office development presents a low impact economic stimulus with a potential return on <br />investment for Pasadena. Offices present opportunities for high wage jobs that pay into the local <br />economy. Office and commercial development pays into the local economy and provides steady <br />revenue streams to support the excellent quality of life for residential Pasadena. Quality office <br />developments enhance the character and reputation of the City of Pasadena, as well. <br />Revenues to the city from office uses are relatively stable and predictable. From a municipal <br />standpoint, office development provides a very strong return on investment. Office developments <br />also provide support for local retail, restaurant and entertainment venues. <br />Pasadena can use its transit opportunities to help facilitate office development in areas outside of <br />downtown. Rather than assume commuters will use the Gold Line and buses to get to work, <br />Pasadena could market the existing transit opportunities as simple intra-Pasadena transit systems. <br />The Gold Line presents a simple, quick and inexpensive means to travel from outside central <br />Pasadena into downtown Pasadena, and downtown Los Angeles, for meetings, lunches and other <br />needs. <br />Current projects proposed for transit oriented districts require parking be limited to 2.25 spaces <br />per 1,000 square feet. According to the Global Tenants Organization, corporations are using <br />office space at a rate of up to six spaces per 1,000 square feet of space. BOMA statistics show <br />average Los Angeles office buildings have three spaces per 1,000 square feet. If buildings are <br />built to lower ratios, Pasadena will lose income as tenants will park on street or neighborhoods. <br />Capitalizing on Pasadena's tremendous assets could help facilitate office and commercial <br />development in ways that would reinforce the city's economic foundations without significantly <br />impacting the quality of life in Pasadena's neighborhoods or the positive aspects of the city's <br />commercial core. <br />27 <br />