_Planning Commission meeting agenda packet 6-25-25

CITY OF PLEASANTON ECONOMIC DEVELOPMENT STRATEGIC PLAN FY2024-2028 Existing Conditions The existing legal and regulatory environment in Pleasanton relies heavily on individual approvals of Planned Unit Developments (PUDs). Historically, this approach has been a fiscally responsible method of managing Pleasanton’s greenfield development. Yet it has limitations when portions of a PUD become underutilized and would benefit from redevelopment. Two major opportunities have been identified for the City of Pleasanton: Stoneridge Mall Stoneridge Mall is a major redevelopment opportunity in the northeast portion of Pleasanton. After a planning process that included community meetings, workshops, and the development of a Framework Plan, the Pleasanton City Council adopted the Stoneridge Mall Framework components in January 2023. The components include land use modifications to allow multifamily residential development of up to 1,170 units in mixed use settings with retail / commercial and open space. Until more detailed development standards are adopted by the City as part of the Framework or other master planning document, development at Stoneridge Mall will be governed by the regulations specified in the Objective Design Standards for Housing, as applicable, the Framework components, and the Pleasanton Municipal Code. The Economic Development Division will provide guidance throughout the redevelopment process to ensure the long-term economic viability of Stoneridge Mall. Redevelopment of Underutilized Commercial Parcels Pleasanton has numerous underutilized commercial parcels, which would benefit from redevelopment for land uses with greater demand and relatively higher values. Currently, these parcels are primarily underutilized Class B commercial office developments in suburban style settings with surrounding parking, often dating from the 1980s and 1990s. Some of these parcels are located within Hacienda Business Park, although opportunity parcels exist throughout the city. From an economic development perspective, it would benefit the City of Pleasanton to be an active leader in taking an inventory of these parcels and supporting their redevelopment. According to partner interviews, real and perceived barriers in Pleasanton’s approval process make redevelopment in Pleasanton higher risk for developers and business operators when compared with other competitor municipalities. There is clear demand from high-value Life Sciences and Biotechnology firms for co-location of land uses, with a mix of office, R&D, manufacturing, warehousing, and some limited distribution. Pleasanton’s zoning code does not allow for this without considerable staff review and approval. There is also demand for multifamily residential, especially within walking distance of the two BART stations. It is expected that these opportunities will not move forward without attention and intervention from the City of Pleasanton. The Economic Development Division should work closely with the Community Development Department on such efforts, to ensure the City can capitalize on opportunities, which can provide critical revenues for needed infrastructure improvements that the city will require in the years to come. 5.0 MAJOR PROJECTS ACCELERATOR PROGRAM 22