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Pleasanton 2023-2031 Housing Element August 2023 Revisions • Time Period: Initial outreach (January 2025); subsequent outreach (January 2027 and January 2029) • Funding Source: Housing Division Budget, Planning Division Budget Program 1.7 Facilitate the development of the large Kiewit and Stoneridge Mall properties and other High Density sites larger than 10 acres with housing by undertaking the following programs: 1. Stoneridge Mall: Prepare and adopt a Specific Plan, Master Plan, PUD plan, or similar planning framework for development of the Stoneridge Mall property (Area 2), in cooperation with the various property owners, that incorporates housing at the amount and densities specified in the housing sites inventory, including lower-income housing, as well as complementary commercial uses. The goal of the planning effort is to create a vibrant mixed use and transit-oriented development that provides significant housing opportunities, including affordable housing, in proximity to employment, shopping and services, that is well connected to and incorporates multimodal transportation facilities. As a first step in this process, develop initial policy guidance for the mall through a "Framework" that will be the basis for future planning and a forum to develop consensus around a vision for the mall for the affected property owners and the community. 2. Kiewit Property: Either in conjunction with preparation of a Specific Plan for East Pleasanton, or within a more focused Master Plan or PUD plan for the 50-acre Kiewit area (Area 21), work with the property owner to develop and adopt or approve a conceptual plan, including housing at mixed densities, and a significant affordable housing component. The planning will take into account infrastructure, circulation, open space and amenities for residents, with the goal of creating a sustainable new neighborhood in Pleasanton. New public infrastructure (e.g., water, sewer, roadways etc.)will be necessary throughout the East Pleasanton Specific Plan (EPSP) area, and cost sharing of public infrastructure improvements is expected to occur among EPSP developers, anticipating the use of community facilities districts or similar financing structures. The plan will encourage a diversity of housing types and seek to include innovative missing-middle type and housing that can provide more compact units and some "entry-level" market-rate homeownership and/or rental housing units that are relatively affordable compared to larger units. Such affordable by design approaches are intended to achieve more housing that is affordable to first-time home buyers and other households that are unable to afford most newly-constructed market-rate housing in Pleasanton but do not qualify for below-market rate housing. 27 1 City of Pleasanton 2023-2031 Housing Element