RES 231356 - Laserfiche WebLink

and/or separate standards adopted as part of the future comprehensive Framework plan or other master development plan for Stoneridge. An application by Simon Property Group for a 360-unit high density residential project', on approximately six acres of the larger eight-acre site designated for housing, is in process with the City as of December 2022 and is expected to come before the Planning Commission and City Council at public hearings in early 2023. If approved and constructed, four acres of the original ten acres zoned will remain available for development, at a density of up to 40 dwelling units per acre, with a capacity of 160 units. This future development is in addition to any housing units allowed in the 6th Cycle Housing Element. Framework Process to Date The City Council authorized work to develop the Stoneridge Mall Framework in August 2022, with the goal of establishing planning guidance for the mall properties in light of the site's inclusion in the 6th Cycle Housing Element. A professional services team including Van Meter Williams Pollack (VMWP), Economic and Planning Systems (EPS) and Fehr & Peers was engaged to assist with development of the Framework, and ensure planning concepts were developed based on appropriate urban design principles, consideration of financial and fiscal feasibility, and an understanding of potential traffic impacts and constraints. The process included a number of touchpoints with the City Council and Planning Commission, as well as community workshops to receive input on the framework as it was developed. Key meetings held include: • August 16, 2022 City Council Meeting — Scoping and Key Planning Considerations • September 26, 2022 —Joint Community and Planning Commission Meeting: Issues, Opportunities and Constraints • December 8, 2022 — Community Meeting: Framework Options • December 15, 2022 — Joint Planning Commission and City Council Meeting: Framework Options • January 11, 2023 — Planning Commission: Framework Components — Recommendation for Adoption • January 26, 2023 — City Council Framework Components Adoption Additional information and summaries or minutes from each of these meetings can be found on the project website: Stoneridgemallframework.com. The project is proposed at a density of 60 du/acre, which includes a base density of 40 du/acre plus a 50 percent density bonus as allowed under state law. 8