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development to be counted toward the development cap and exempting the residential development from the calculation of the development cap. Site 3 - Nearon Property This property is located on the northwest corner of Stoneridge Drive and West Las Positas Boulevard. This property is zoned PUD -ICO with a Hacienda land use designation of IPD (Research and Development / Light Manufacturing Planning District). This property is 5.6 acres and has a small exterior building that is 4,650 square feet and a previously planned future office of an additional 51,260 square feet. The City Council rezoned 5.6 acres to High Density Residential in January of 2012 and approved a multifamily project of 168 units in June of 2013. This rezoning was located on the 5.6 acres that contains the 4,650 square foot building and the planned future office location. Staff Analvsis and Recommendation: The environmental analysis examined the effects of both the existing developed building and approved office in addition to a new residential project. Staff recommends exempting the new 168 units from the calculation of the cap and retaining the development capacity from the existing structure that will be removed and future approved office (55,910 square feet in total that would be retained as a part of the 9,889,000 square foot development cap). Site 4 •• CM Capital Properties Site 4 is the CM Capital Properties which are located on the south side of West Las Positas Boulevard at Hacienda Drive. This site has been fully developed with 188,120 square feet of office. The City Council rezoned the 12.6 acre site to allow Mixed Use (including High Density Residential) in January of 2012. The Ordinance that established the rezoning allows 378 residential units. Staff Analysis and Recommendation: The environmental analysis examined the effects of both the existing developed buildings in addition to a new residential project. Staff recommends exempting the new 378 units from the calculation of the cap and retaining the development capacity from the existing structure that will be removed (188,120 square feet in total that would be retained as a part of the 9,889,000 square foot development cap). Site 5 .. BRE Property North Site 5 is the former WP Carey site, now referred to as the BRIE North Property which is located on the southeast corner of Owens Drive and Willow Road. The site was originally zoned PUD -ICO with an approved office development of 183,100 square feet. In 2011 this site was rezoned to Mixed Use which allows high density residential and in 2012 a PUD development plan for 251 residential units, 4 live /work units and 5,700 square feet retail space was approved.