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,ECTION 3 BACKGROUND <br />The Depot, also known as the Regional Transportation Center, <br />is located immediately to the east of this development area. <br />The Depot is a regional hub for rail and bus transit, as well <br />as being close to Santa Ana (I -5) Freeway. The Depot rail <br />systems include Metrolink and Amtrak, as well as freight. <br />This is the main line from San Diego to Los Angeles. The San <br />Diego terminus ends at a San Diego trolley station. The Los <br />Angeles leg ends at Union Station, with connections to the <br />Metro Red Line (subway) and both city, intra -city and inter- <br />city bus connections. <br />The proposed Orange County Light Rail (CenterLine) System <br />borders the project site on all sides, except Poinsettia <br />Street. <br />SECTION 4 LOCATION <br />The project site is located at the intersection of Santa Ana <br />Boulevard and Santiago Avenue, and occupies the northwest and <br />southwest corners. The project is directly adjacent to the <br />Depot to the east. Refer to Exhibit 2. <br />The total project area includes 195,148 square feet (4.48 <br />acres) , comprised of two parcels. Parcel 1, 63,162 square <br />feet (1.45 acres) is located on the south side of Santa Ana <br />Boulevard, between Santiago and Poinsettia Streets. Parcel <br />2, 131,986 square feet (3.03 acres) , is the entire block <br />bounded by Santiago Street to the east, Santa Ana Boulevard <br />on the south, Poinsettia Street to the west, and Civic Center <br />Drive to the north. <br />SECTION 5 OBJECTIVES <br />Preliminary objectives for development of the Santiago Street <br />Lofts include: <br />a. Capitalize on the Depot Transit Station to allow an <br />opportunity for a transit - oriented development. <br />b. Promote a walkable community. <br />c. Create an enhanced access to downtown. <br />d. Create live /work opportunities close to mass transit. <br />e. Revitalize the local area. <br />f. Create moderately priced new housing. <br />Page of 7 <br />