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Chapter 1 Introduotion <br />Within the boundary of the Transit Zoning Code, the genc y ovals forte -nine parcels comp-rising <br />approximatel y seven noncontiguous acres. The Agency/City is pursuing the potential acquisition of <br />twent y additional prope ti s within the immediate vicinity of the forty -nine parcels mentioned bov for <br />the purposes of completing the assemblage of properties on those blocks in -\Ahich the Agency already <br />has majorit y ownership, as xvell as to secure property to provide for additional open space. Tile <br />acquisition of these additional properties ma y lead to demolition and/or relocation of existing structures, <br />as well as the potential relocation of any existing residents. <br />The Agency nd the Related Coy pani <br />� es of California, LLC and Griffin Realty Corporation, a California <br />Corporation (the Developer) propose to redevelop these properties. The Developer concept for these <br />properties includes the development of a max-ft'nurn of 155 rental units and a m xi€ u m of 65 foci -sale <br />W t ,--- -a total of 220 e-%xi, residential units (the Developer Project). A component of this residential <br />development will be affordable pursuant to the Count= of orange's criteria for to -to-- moderate income <br />housing. The City/ Agency is also pursuing the addition of new public open space that could include a <br />public park, a public tot lot, and a 10,000 square foot community f building. The redevelopment of these <br />properties requires the demolition of approximately 30,243 square feet of building area, on fifteen <br />Age c 7 -o vn d properties. <br />The Citywill amend the current General Ilan to permit these new v land uses and amend the Zoning Code <br />to establish development standards that implement the project. These arnendments -%Tfi11 allow, the City to <br />provide a framewor for the development of compact transit -- oriented develops ent that contains mix <br />of residential, conimercial, and professional uses in order to address the Citys and the region's goals of <br />providing sites for housing in already* urbanized locations that are adjacent to transit, thereby reducing <br />vehicle trips, stimulating investment in underutilized land, and improving the jobs /housing balance <br />vithin the Cite. This will. lead to potential development of approximatel y 4,075 residential units, <br />387,000 sf of retail development, and an additional 15.5 acres of open space %q'thin the Cite. Adoption of <br />this project xvoLM allo w the Cite to consider subsequent actions consistent with these updates in the <br />General Plan and Land Use designations. 'Table 3-- Summary of Transit Zoning Code [SD84A and <br />S Dexrelopr ent Potential) lists the overall potential net change that would occur as a result of the <br />proposed project area. <br />In tern -is of net development, the Transit Zoning Code would allow for the potential deirclopment of <br />approximatel y 351,000 square feet f of retall development and the additive of new open space NAthin <br />the City. Creation of this Transit Zoning Code area would allow the Cite to consider subsequent actions <br />consistent With these updates. 'Table -1 (Summary of Transit Zoning Code Potential Net Change) lists <br />the overall potential net change that could occur as result of any n -%v construction built pursuant to the <br />standards contained within the proposed Transit Zooming Code. <br />1-2 Transit Zoning Ceases EIR Findings of Fact/Statement of Overriding Considerations <br />