CC 05-31-2022 Item No. 1. The Rise (Vallco)_Staff Presentation1
City Council
May 31, 2022
The Rise – Modification Request
Formerly Vallco Town Center
Background
•March 2018 – Received application
for Vallco Town Center SB 35 project:
•2,402 residential units, ~0.486 MM
sf retail, ~1.981 MM sf office
•September 2018 – City approved
project pursuant to SB 35
•March 2022 – Received application
for modification
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CC 05-31-2022 Item No. 1
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Scope of Review
●If modification constitutes less than 15% of units or
total s.f. of construction, then scope of review
limited to:
●Determination whether modified project meets
statutory criteria for SB 35 eligibility
●Project complies with objective planning standards in
effect when original project application submitted
●No new standards adopted after March 2018 may
be applied
●City may not consider prior determinations not
affected by proposed modifications
Scope of Review
●Tentative map application eligible for streamlined,
ministerial review since application was found to
comply with prevailing wage requirements in 2018
●Only objective standards in effect at time of
original application may be applied
●Must be reviewed within 60 days
●Deadline is June 3, 2022 (Friday)
●Decision made by City Manager
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Modifications
●Increase in residential s.f.
●~4.96 MM s.f. to ~5.12 MM s.f.
●Reduce office s.f.
●~1.98 MM s.f. to ~1.97 MM s.f.
●Decrease in retail s.f.
●~0.486 MM s.f. to ~0.429 MM s.f.
●No change in total units (2,402)
●No change in affordable units (1,201/50%)
●Building footprints have changed in size
●Reduction in parking 10,500 spaces to ~7,580 spaces
Change to
vehicular
circulation
Original
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Change to
vehicular
circulation
Modified
West plaza
and
easements
Original
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West Plaza
and
easement
Modified
East plaza
and
easements
Original
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East plaza
and
easements
Modified
Changes
to unit
types
and sizes
Original Modified Change
Studio 1,057 684 -373 (~35% ▼)
1-BR 555 833 +278 (~50% ▲)
2-BR 265 558 +293 (111% ▲)
3-BR 262 187 -75 (~29% ▼)
4-BR 203 56 -147 (~72% ▼)
5-BR 50 74 +24 (48% ▲)
Penthouse 10 10 No change
Totals 2,402 2,402 No change
Studios are smaller, average size of 3BR and 4BR units
increased
More units in the Towers (132 units vs. 290 units)
More units in the Terraces (170 units vs. 320 units)
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Changes
to green
roof
Original
Changes
to green
roof
Modified
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Building Heights
●Overall buildings have increased in height
●Office buildings by up to 15 – 18 feet
●One office building reduced by ~4 feet
●Residential buildings increased by up to 36 - 40
feet
●Residential towers are ~260 feet tall (~15- 17
feet taller)
Modifications
●Changes to affordable unit size mix
Approved
Project
Proposed
Modification Change
Studios 898 561 -337
1-bedroom 303 537 +234
Subtotal 1,201 1,098 -103
2-bedroom 097+97
3-bedroom 06+6
Subtotal 0 103 +103
Total 1,201 1,201 0
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Modifications
●Changes to applicable rent and mix of affordability
●Reduction in number of very low income(VLI) units and
increase in Low income (LI) units
●Average allowable rents higher, but precise rents determined
later when financing
●TCAC rents, allowed by state law since 2021, generally higher than HSC rates
Approved
Project
Proposed
Modification Allowed Rent
Very Low Income Units
(Density Bonus, BMR & SB 35)217 160
Very Low Income Per Health &
Safety Code § 50053
Very Low Income Units
(Density Bonus & SB 35)144 107
Very Low Income Per Health &
Safety Code § 50053
Very Low Income Subtotal 361 267
Low Income Units (BMR and
SB 35)144 107
Low Income Per Health & Safety
Code §50053
Low Income Units (SB 35)696 827
Low Income Per Tax Credit
Allocation Comm. (TCAC)
Low Income Subtotal 840 934
Total 1,201 1,201
Eligibility for Streamlined Review
●10 eligibility criteria under state law
●Only criteria impacted by modifications
discussed here
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Eligibility for Streamlined Review
Does the site have either zoning or a general plan designation that
allows for residential use or residential mixed-use development and
does the development designate at least two-thirds of the square
footage for residential use?
Residential Square Footage
Applicable to the modification request, since modifications
proposed that change residential and nonresidential square
footage.
Independent review finds that the modification request complies
with minimum residential s.f. requirement of SB 35
Eligibility for Streamlined Review
Does the development designate at least two-thirds of the square
footage for residential use?
Differences between applicant’s calculation and independent
reviewer minor and not material.
Project designates > 2/3rds of SF for residential use
Project Plans Independent Review
Gross SF % of total Gross SF % of total
Residential 5,119,005 68.1 5,219,907 68.1
Retail 429,408 5.7 500,344 6.5
Office 1,973,494 26.2 1,949,797 25.4
Total 7,521,907 100 7,670,048 100
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Objective Standards
Compliance
Objective Standards
Compliance
Objective Zoning Standard
Applicable to modification request, since
modifications proposed which impact this
criterion.
●No Specific Plan. Therefore, no
objective zoning standards apply to
project as determined in 2018.
●No height limits apply
●Slope line – modified project meets the
applicable 1:1 slope line for all
proposed primary bulks of buildings
●Only small encroachments for green
roof decks along Wolfe Rd
Objective Zoning Standard
Applicable to modification request, since
modifications proposed which impact this
criterion.
●No Specific Plan. Therefore, no
objective zoning standards apply to
project as determined in 2018.
●No height limits apply
●Slope line – modified project meets the
applicable 1:1 slope line for all
proposed primary bulks of buildings
●Only small encroachments for green
roof decks along Wolfe Rd
Objective Standards Compliance
Objective Design Review Standards
Applicable to modification request, since modifications
proposed which impact this criterion.
No specific objective design review standards for site
determined in 2018. Therefore, not applicable.
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Density Bonus
Density Bonus
Project continues to be eligible for 35% density bonus since
15% (267 units) affordable to Very low income households.
Density Bonus incentives
Continues to request three incentives:
1.City BMR units to be studios and 1-BR units only
2.City BMR units to be smaller studios and 1-BR units
compared to market rate units
3.Reduction in required retail s.f.
Next Steps
City Manager will make a decision by June 3, 2022
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