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Stoneridge Mall Framework In mid-2022, at the direction of the City Council, staff began work on a collaborative (City and all mall parcel property owners) long-term planning strategy for the redevelopment of the Stoneridge Mall in its entirety, known as the Stoneridge Mall Framework. The intent of the Stoneridge Mall Framework effort is to provide a basis for the establishment of new zoning and objective development standards to facilitate the redevelopment of the Stoneridge Mall with a wider range of potential market-driven uses and enhanced and objective design standards to streamline the development review process for future projects at Stoneridge Mall. Components of the Stoneridge Mall Framework were recently approved/adopted by the City Council in January 2023. Framework components included a Vision Statement and guiding principles, as well as a series of design and placemaking elements. A key aspect of the Framework concepts was the allocation of up to 1,170 housing units incorporated in the 6th Cycle (2023-2031) Housing Element, among various parcels at the mall, with such units in addition to those zoned as part of the 4th Cycle Housing Element, including the site of this current application. As noted, the PUD-MU zoning and associated standards for the subject application and property were established in 2012. Since the application for PUD-136 was submitted well in advance of the adoption of the Stoneridge Mall Framework, that latter document and the standards therein, and the 2023 Housing Sites Objective Design Standards and Guidelines (adopted on January 26, 2023), are not applicable to this project. However, as provided below, and as part of its recommendation to the City Council, the Planning Commission requested that staff provide a brief analysis of how the project could affect and/or be integrated with the Vision Statement and guiding principles outlined in the Stoneridge Mall Framework. Staff has reviewed the Guiding Principles and Vision Statement and does not find any inherent conflict with the Framework, nor any specific element of the proposal that would impede the future implementation of the Framework through subsequent developments. The project would correspond to the Framework in various ways including the following: • Diversifies land uses through the addition of new housing that would contribute additional revenues to the City in the form of new property taxes. • Includes pedestrian connections around the entire perimeter of the project and would reserve land for the future construction of an expanded multi-use facility along Stoneridge Mall Road (see discussion below). • Includes its most significant building entry and activity area facing toward the Sears site, providing a future opportunity to bridge between this project and a future redevelopment of the Sears site, which are both owned by Simon Property Group. • Does not obstruct or limit access to existing mall entries, and space would remain available between the project and existing mall buildings to accommodate Page 8 of 41