RES 87072 - Laserfiche WebLink

Chandler W. Lee Revised February 5, 1987 Page 4 Pleasanton to serve business customers in the area and is requesting that the downtown branch policy be changed to a case-by-case review. One question the City wants to answer is whether changir~g~of downtown requirements would result in the relocation of existing downtown bank branches to other parts of the city. Another question that should be con- sidered is whether the City's current policy might result in too many downtown banks, taking space away from other poten- tially viable retail uses that would be more beneficial to the market synergy of the downtown. An issue of considerable importance that has recently emerged is the likely impact of a proposed shopping center to the east of downtown on the viability of downtown retail busi- nesses. The proposed center would contain approximately 190,000 square feet of space and be anchored by a super- market, a drug store and either a home improvement store or a "junior" clothes store. Additionally, it would contain about 40,000 square feet of small store space. While the grocery, drug and, to a lesser degree, home improvement store might not be directly competitive with downtown retailers, it is likely that the additional 40,000 square feet of small space would compete both for tenants and shoppers that might go to downtown. The key question is whether the market can support both retail agglomerations and, if so, when.