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Built but unoccupied development - This category includes office buildings, shopping <br />centers, and other retail/office/industrial projects which are not "fully occupied." Staff <br />has historically assumed "full occupancy" to be 93 percent of actual development. Ifa <br />project has a greater than seven percent vacancy, the "Existing Plus Approved" model in <br />essence adds occupied space. <br /> <br />· Projects under construction - This category includes residential as well as commercial/ <br /> office/industrial projects. <br /> <br />Projects with a final City design approval - This category includes residential projects <br />with final PUDs/tentative maps and commercial/office/industrial projects with final <br />design approval (PUD or design review, as relevant). <br /> <br />Projects with a development agreement - This category includes some residential, <br />commercial, office, and industrial projects which have agreements which allow future <br />development as "vested" approvals at some level and preclude the City from unilaterally <br />changing the General Plan designation, intensity of development, and other land use <br />considerations. <br /> <br />In essence, these projects can be built/occupied without any significant City discretionary <br />approval. Adding them to the "Existing" land use makes up the "base case" land use option, <br />since these projects are essentially immune to the effects of any General Plan changes which the <br />City may contemplate making with this Update. <br /> <br />It is possible that not all the "approved" projects will be built. Approvals can lapse, and the <br />terms of development agreements can end before the economy makes development a reality. <br />Nonetheless, staff believes it is reasonable to treat the "Existing Plus Approved" land use <br />scenario as the "base case," or "least possible" development scenario. It is the scenario which <br />could result if the City granted no more land use approvals. <br /> <br />While <br />areas: <br /> <br />"approved projects" are distributed throughout the City, they are concentrated in several <br /> <br />Residential projects in the Vineyard Corridor (129 units)/Ruby Hill (178 units) area, the <br />Ponderosa Homes' Busch Property (145 single-family units, 172 Senior apartments), the <br />Bernal Property residential projects (404 units), and in the North Sycamore/Happy Valley <br />Specific Plan areas (124 units); <br />New retail projects at Stoneridge Mall (280,000 square feet) and at Wal-Mart <br />Stores (30,000 square feet), and filling vacancies at Rose Pavilion and Vintage Hills <br />Shopping Center; and <br />New office projects in Hacienda Park (1.6 million square feet), in the Bemal <br />Property (745,000 square feet), at Applied Biosystems' campus (960,000 square feet), <br />and filling vacancies near Stoneridge Mall and in North Pleasanton business parks. <br /> <br />SR 05:070 <br />Page 5 <br /> <br /> <br />