Ordinance 2853-05 - Laserfiche WebLink

employment. Housing would initially be developed in live/work housing units by people who want to live in their work environment. This could be artists, software engineers, web site developers, and people who are first starting a business and keeping expenses low. Housing could also be built as a part of a master plan/planned development overlay process where housing is designed and integrated into a development which has an industrial feel to its design. Over the next 15-20 years, the Station Area could accommodate approximately 500,000 square feet of"flex-tech" space in both new and retrofitted buildings. Most of this space would likely be found in low-rise buildings, but there may be a few mid- rise structures as well. Initially, due to lower land values, parking would be accommodated on surface lots. But because of the proximity to transit, parking ratios could be considerably lower than other locations in the region, thus saving land and development costs. Eventually, as land values rise and infill takes place, some or all of the surface parking would be replaced by parking structures. To the extent that additional job growth within the area stimulates new housing, there are additional locations west of the Station Area across Broadway, or in and around downtown, which will be developed for market rate housing. The scenario, therefore, suggests that by emphasizing employment within the Station Area, other nearby areas may benefit from increased demand for other types of development. 9