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Figure 1: Stoneridge Shopping Center Aerial 1f /lel u /f Al Mit C006 s .„, a ..-- .,,, , \ - .., - - • ...--, .neredge Shopp.ng. y� .' apt n ! Y. • 0 t 1 9% a O 1 0 it ' It1 g The project would involve combining two sites within the southeast quadrant of the Mall property; the northern of these two properties, approximately 6.2 acres, is the location of the former Sears Department store and its parking structure ("Sears Site"); this 6.2-acre area is the site of the commercial redevelopment and expansion project approved by the Planning Commission in 2019. The second site, immediately to the south of the Sears Site, is part of the central mall parcel and is approximately 9 acres in size and contains surface parking. It is among the properties identified and zoned for high-density housing in the 2012 Housing Element. Additional information on the two sites and associated project applications is provided further in the report. The location of the project sites within the mall property is shown in Figure 2. PUD-136 Workshop, Stoneridge Shopping Center Planning Commission 3 of 14 velop and submit a complete application package reflective of the mixed-use project. Once the application is further along in design development, the application will return for a Planning Commission workshop to allow for further design comments and direction. A list of discussion topics and questions are included in the body of this report. No formal action will be taken on the application at this time. General Plan amendments, Rezoning and Planned Unit Development applications require a Planning Commission recommendation and a final decision by the City Council. BACKGROUND The Stoneridge Mall The Stoneridge Mall Regional Shopping Center (Stoneridge Mall) is part of the overall mixed- use retail/office/hotel development located in the northwest area of Pleasanton defined by 1-580, 1-680, Stoneridge Drive, and Foothill Road. The area within the inner loop of Stoneridge Mall Road is approximately 75 acres as shown in Figure 1. The central mall building, containing a variety of restaurants, shops, and services, is owned by Simon Property Group and is located on its approximately 29-acre property. Attached to and interconnected with the central mall building are five department stores, each located on their separately owned properties, including Macy's Men's Store, Macy's Women's Store, JCPenney, Nordstrom, and Sears (recently closed and purchased by Simon Properties). The Stoneridge Mall is governed by a development agreement, amended since its original approval, which grants to the mall ownership vested rights to certain entitlements. In 1992, the City and The Taubman Company — original owners of the Stoneridge Mall — entered into a Development Agreement which granted rights to the mall to expand by 178,000 square feet. In January 1998, the City approved the first Amendment to the Development Agreement to further increase the Stoneridge Shopping Center by an additional 202,000 square feet, allowing for a total of 380,000 square feet of additional floor area. On April 21, 2018, the City Council approved an amendment to the Development Agreement to extend the term of the agreement until December 2022. PUD-136 Workshop, Stoneridge Shopping Center Planning Commission 2 of 14