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City Council January 18, 2022 Page 4 appropriate given that the existing shopping center is overparked, and that future residential uses will be located in close proximity to transit and office/employment uses, and will therefore require less parking compared to other residential development within the City. Furthermore, parking ratios in a mixed-use, transit-centered locations like Stoneridge should consider peak time-of-use and shared parking. Requiring excess parking will also strain the economics of any future redevelopment project, particularly given the need to dedicate land for and construct a new parking structure. 4. Mixed-Use Zoning and Permitted Land Uses at Stoneridge The staff report and other meeting materials do not identify proposed general plan and zoning designations for the various housing sites. For Stoneridge, we request that the City adopt flexible mixed-use designations, which continue to allow the land uses permitted under the existing C-R(m) zoning, including retail, service, office, entertainment, and related uses. This is consistent with the approach the City took at Stoneridge during the 5th Cycle Housing Element Update, and it is necessary to ensure the viability of a high-quality mixed-use development that both provides new housing and preserves existing and new commercial uses. * * * * * In closing, Macy’s and Lowe look forward to working with the City to modernize and enhance Stoneridge and potentially to develop a new mixed-use project that helps meet the community’s housing needs. The Housing Element Update provides an excellent opportunity to take an important first step in that direction. We encourage the City Council to approve the inclusion of Stoneridge in the Final Sites Inventory and to evaluate residential development on Stoneridge in the CEQA document prepared for the Housing Element Update.