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The CM Capital site was one of nine sites chosen to be rezoned during the last cycle, primarily because it received a very high score for criteria important for California Tax Credit Allocations for affordable housing funding, and was considered a desirable location for higher- density housing of 30 units or more per acre due to its location in close proximity to local job centers and the existence of buffers between the site and single - family residential neighborhoods in the vicinity. The original site evaluation ranking criteria is included within Exhibit F. A description of the CM Capital property is provided below. Staff is seeking feedback on whether the Planning Commission wishes to recommend the City Council pursue any changes of the zoning on the CM Capital site. As noted above, Staff is not recommending any changes to the housing inventory at this time. CM Capital Site The CM Capital properties consisting of two parcels (5.9 acres and 6.7 acres) were zoned MU (Mixed -Use) in 2012 as part of the previous Housing Element Update (see Aerial 1). The 5.9 acre property at 5850 W. Las Positas has received approvals for Summer Hill Apartments to construct a new 177 unit apartment development. The remaining 6.7 acre site located at 5758 and 5794 W. Las Positas maintains the capacity to accommodate 200 residential units although it currently is the site of an existing commercial office building. The adjacent residents across Arroyo Mocho within the Parkside Neighborhood have requested the City consider down - zoning the property to a lower density residential zone or to remove residential from the types of uses allowed on the site. The property owner is opposed to the re- designation of the property and has expressed a wish to maintain the current Mixed - Use zoning. Aerial 1 — CM Capital Site Case No. P1-1-04-10, City of Pleasanton Page 6 of 12 Planning Cornrnission