3_Exhibit B - Laserfiche WebLink

kimley-horn.com 4637 Chabot Drive, Suite 300, Pleasanton, CA 94588 925.398.4840 156380685.4 MEMORANDUM Subject: 2022 Stoneridge Mall Residential Project – Local Traffic Analysis From:Michael Mowery, P.E. Ben Huie, P.E. Date:January 9, 2023 A.EXECUTIVE SUMMARY The Simon Property Group (SPG) is proposing to implement the City’s Housing Element designation and zoning for property within Stoneridge Mall by developing the 2022 Stoneridge Mall Residential Project (Project), which will redevelop the southeast corner of the Stoneridge Shopping Center in the City of Pleasanton (City), CA. The Project is proposing to replace a portion of the existing southeast surface parking lot located adjacent to the existing Sears parking deck and east of the Macy’s Women’s store with 360 residential units and a new parking garage exclusively serving the residents of the Project. The Project site has been within an identified housing opportunity site in the City’s General Plan Housing Element since 2012, and the consequences of developing 400 residential units (40 more than currently proposed) have been included in the City’s traffic model since then. Kimley-Horn and Associates, Inc. (Kimley-Horn) conducted a traffic evaluation to determine the consistency of the Project with the General Plan Circulation Element. This report accordingly documents the traffic projected to result from the housing projects included in the 2012 Housing Element (including the Project), the recently-constructed Workday office building, and the approved 10x Genomics building, and compares them to the General Plan LOS D standard. Details of the methodology and the analysis are discussed below. The Project is consistent with the residential development studied in the 2012 Housing Element, where 400 residential units were assumed in the areas of Stoneridge Shopping Center property proposed for housing. Since the Project is proposing only 360 of the 400 residential units analyzed for the Stoneridge Mall site for the 2012 Housing Element, it would not result in any new road capacity issues beyond those previously identified. B.2022 STONERIDGE RESIDENTIAL PROJECT The Simon Property Group is currently proposing to construct 360 residential units and a new parking garage exclusively serving the residents of the Project. The Project implements a base density of 40 units per acre over 6 total acres, and is requesting a 50% density bonus, resulting in 60 units per acre. 60 units per acre over 6 acres results in the 360 units proposed. The development would replace about 2/3 of the existing surface parking lot adjacent to the existing Sears parking deck and remote from the Macy’s Women’s store. Attachment A shows the preliminary site plan for the proposed Project.