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09-19-18 Item #17 Vallco Specific Plan - Mayor Slides 2
Initial Assumptions Office:250 sq. ft. per jobInitial Assumptions Office:250 sq. ft. per jobRetail:500 sq. ft. per jobInitial Assumptions 150,000 sq. ft. office = 600 jobsAt a 1.5:1 (or 3:2) ratio,600 jobs = 400 housing units 150,000 sq. ft. office = 600 jobs 150,000 sq. ft. retail = 300 jobsAt a 1.5:1 (or 3:2) ratio,300 jobs = 200 housing units 150,000 sq. ft. office = 400 housing units150,000 sq. ft. retail = 200 housing unitsBalanced Delivery of Office, Retail, and Housing Units Tier 1: 750,000 sq. ft. office (X 5) and 600,000 sq. ft. retail (X 4) 150,000 sq. ft. office = 400 housing units150,000 sq. ft. retail = 200 housing unitsTier 1: 750,000 sq. ft. office (X 5) and 600,000 sq. ft. retail (X 4) 150,000 sq. ft. office = 400 housing units150,000 sq. ft. retail = 200 housing units750,000 sq. ft. office = 2,000 housing units600,000 sq. ft. retail = 800 housing unitsTier 1: 750,000 sq. ft. office (X 5) and 600,000 sq. ft. retail (X 4) TIER 1TOTAL NEEDED: 2,800 housing unitsProposed: 2,657* housing units Tier 1 Housing: 2,657* housing units Tier 1 Housing: 2,657* housing unitsVallco allocation: 1,779 housing unitsX 1.35 (state density bonus)=2,401.65 housing units Tier 1 Housing: 2,657* housing unitsVallco allocation: 1,779 housing unitsX 1.35 (state density bonus)=2,401.65 housing unitsSimeon Properties: 181 housing units Tier 1 Housing: 2,657* housing unitsVallco allocation: 1,779 housing unitsX 1.35 (state density bonus)=2,401.65 housing unitsSimeon Properties: 181 housing unitsKCR Properties: 74 housing units TIER 1TOTAL NEEDED: 2,800 housing unitsProposed: 2,657* housing units TIER 1TOTAL NEEDED: 2,800 housing unitsProposed: 2,657* housing unitsΔ= 143 housing‐unit deficit Tier 2: 1,500,000 sq. ft. office (X 10)* and 400,000 sq. ft. retail (X 2 2/3) 150,000 sq. ft. office = 400 housing units150,000 sq. ft. retail = 200 housing unitsTier 2: 1,500,000 sq. ft. office (X 10)* and 400,000 sq. ft. retail (X 2 2/3) 150,000 sq. ft. office = 400 housing units150,000 sq. ft. retail = 200 housing units1,500,000* sq. ft. office = 4,000* housing units400,000 sq. ft. retail = 534 housing unitsTier 2: 1,500,000 sq. ft. office (X 10)* and 400,000 sq. ft. retail (X 2 2/3) TIER 2TOTAL NEEDED: 4,534* housing unitsProposed: 2,923 housing units Tier 2 Housing: 2,923 housing units Tier 2 Housing: 2,923 housing unitsVallco allocation: 2,668 housing units Tier 2 Housing: 2,923 housing unitsVallco allocation: 2,668 housing unitsSimeon Properties: 181 housing unitsKCR Properties: 74 housing units TIER 2TOTAL NEEDED: 4,534* housing unitsProposed: 2,923 housing units Δ= 1,611* housing‐unit deficitTIER 2TOTAL NEEDED: 4,534* housing unitsProposed: 2,923 housing units Δ= 1,611* housing‐unit deficitΔ = 2,411 housing‐unit deficit(if 250,000 square feet of “office‐amenities” space is included)TIER 2TOTAL NEEDED: 4,534* housing unitsProposed: 2,923 housing units