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. SECTION 3 SECTION 4 . SECTION 5 . RACKGROLJND The Depot, also known as the Regional Transportation Center, is located immediately to the east of this development area. The Depot is a regional hub for rail and bus transit, as well as being close to Santa Ana (1-5) Freeway. The Depot rail systems include Metrolink and Amtrak, as well as freight. This is the main line from San Diego to Los Angeles. The San Diego terminus ends at a San Diego trolley station. The Los Angeles leg ends at Union Station, with connections to the Metro Red Line (subway) and both city, intra-city and inter-city bus connections. The proposed Orange County Light Rail (Centerline) System borders the project site on all sides, except Poinsettia Street. LOCATION The project site is located at the intersection of Santa Ana Boulevard and Santiago Avenue, and occupies the northwest and southwest corners. The project is directly adjacent to the Depot to the east. Refer to Exhibit 2. The total project area includes 195,148 square feet (4.48 acres), comprised of two parcels. Parcel 1, 63,162 square feet (1.45 acres) is located on the south side of Santa Ana Boulevard, between Santiago and Poinsettia Streets. Parcel 2, 131,986 square feet (3.03 acres), is the entire block bounded by Santiago Street to the east, Santa Ana Boulevard on the south, Poinsettia Street to the west, and Civic Center Drive to the north. OR.JFCTIVFS Preliminary objectives for development of the Santiago Street Lofts include: a. Capitalize on the Depot Transit Station to allow an opportunity for a transit-oriented development. Promote a walkable community. Create an enhanced access to downtown. Create live/work opportunities close to mass transit. Revitalize the local area. Create moderately priced new housing. b. c. d. e. f. Exhibit "A" Page 2 of 7 Ordinance No. NS-2651 Page 5 of 10