PC-2023-05 - Laserfiche WebLink

Table 1: Stoneridge Mall Key Statistics, Existing Conditions Ownership Simon ~ 45 acres 300 Venture Group ~ 10 acres Macy's ~ 12 acres Approximately 75 acres total Commercial Square Footage SHPR Investments ~ 8 acres -Approximately 1.3 million square feet of existing commercial square footage Open stores: ~ 960,000 square feet Closed stores: ~ 340,000 square feet -Approximately 353,000 square feet of additional retail allowed at the mall per Development Agreement with Simon Housing Units -Existing Zoning: 400 units on property owned by Simon-6th Cycle Draft Housing Element: 900-1,440 units Parking Approximately 6,600 existing surface parking spaces (a ratio of 5 spaces per 1,000 square feet) Existing site constraints include atypical parcel configuration, several grade changes across the mall site, and traffic congestion near the northeast area of the mall on Stoneridge Mall Road. It is also noted that there is an existing private Reciprocal Easement Agreement (REA) between the various property owners, which spells out the rights and obligations of each to the other and the mall properties as a whole. Amendments to land use and development rights at the mall will require renegotiation and modification of the REA, and thus a high degree of consensus among all of the owners on the preferred development outcomes. PROCESS AND INPUT TO DATE Since the August 2022 meeting during which City Council authorized moving forward with the Stoneridge Mall Framework project, staff and the professional services team have met with property owners and solicited feedback from the community and the Planning Commission. The sections below provide a summary of the input that has been provided to date. City Council, Planning Commission, and Public Input To Date The City Council provided initial input at its August 2022 meeting, key themes of which include: Page 4 of 17