2010-024 - The Final Environmental Impact Report No. 2006-02

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Chapter 2 Introduotlon \K~itlin the boundary of the Transit Zoning Code, the Agenc}' owns forty=-nine parcels comprising approximatel}= seven noncontiguous acres. The Agency=/City is pursuing the potential acquisition of twenty additional properties within the isYistiediate vicinity= of the forty-nine parcels mentioned above for the purposes of completing the assemblage of properties on those blocks in Erlich the Agenc}> already has majority ownership, as ~c>ell as to secure propert}> to prop-ide for additional open space. The acgtusition of these additional properties may lead to demolition and/or relocation of existing structures, as well as the potential relocation of any existing residents. The Agency= and the Related Companies of California, LLC and Griffin Realty Corporation, a California Corporation (the Deg>eloper) propose to rede~>etop these properties. The Developer concept For these properties includes the development of a maxi num of 155 rental units and a maximum of 65 For-sale usiits~ total of 220 new residential units (the Developer Project). A component of this residential development will be affordable pursuant to the County= of Orange's criteria For low-to-moderate income housing. The City/Agency= is also pursuing the addition of new public open space that could include a public park, a public tot lot, and a 10,000 square foot community- building. The redevelopment of these properties requires the demolition of approximatel}= 30,243 square Feet of building area, on Fsfteen Agency-owned properties. The City* wil} amend the current General Plan to permit these new land uses and amend the Zosting Code to establish development standards that implement the project These amendments ~~'ill allow the City to provide a framework for the development of compact, transit-oriented deg>elopment that contains a mix of residential, commercial, and professional uses in order to address the City's and the region's goals of providing sites for housing in already urbanized locations that are adjacent to transit, thereby reducing vehicle trips, stunulating investment in underutilized land, and improving the jobs/housing balance within the City. Tlis cvill lead to potential development of approximately 4,075 residential units, 387,000 sf of retail developtent, and an additional 15.5 acres of open space within [he City. Adoption of this project would allow the City to consider subsequent actions consistent with these updates in the General Plain and Land Use designations. Table 3-1 (Summary of Transit Zoning Code [SD84A and SD84BJ Deg=elopment Potential) lists the overall potential net change that would occur as a result of [he proposed project area. In tetras of net development, the Transit Zoning Code would allow for the potential development of approximatel}> 351,000 square feet (sf) of retail deg>elopment and the addition of new open space within the City>. Creation of this Transit Zoning Code area would allow the City to consider subsequent actions consistent urith these updates. fable 1-1 (Summary of Transit Zoning Code Potential Net Change) lists the overall potential net change that could occur as a result of any= new construction built pursuant to the standards contained within the proposed Transit Zoning Code. Resolution No. 20'10-024 Page 1 O of 130 1-2 Transit Zoning Code (SD 84) EIR Findings of Fact/Statement of Overriding Conslderatlons