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CM Capital Site 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 CM Capital properties consisting of two parcels (5.9 acres and 6.7 acres) were zoned PUD -MU (Planned Unit Development - 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 (the CM Capital 2 site) 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 uses 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. At the August 13, 2014 Planning Commission hearing on the Housing Element Update, a representative of the Parkside Neighborhood and the General Manager of Hacienda Business Park announced that the property owner and adjacent neighborhood residents have met to discuss different density ranges as well as desired design guidelines for the CM Capital 2 site. Although a specific density and site design issues are still being discussed, the two groups have agreed that a density lower than 30 residential units per acre would address community concerns while still allowing for housing development suitable to the job -rich location. The Planning Commission has recommended that a densit of 12.5 units .er acre be considered. Aerial 1 — CM Capital Site Page 6 of 8