2006/07/12 Council Agenda Packet

CHAPTER 3 Development Capacity within Downtown Plan Area Based upon conservative estimates for redevelopment potential within the Downtown Plan area, the projected demand described above can be accommodated within the Downtown Plan area. The estimates are based on an analysis of sites that have a reasonable potential to redevelop by 2025, using modest assumptions about floor area ratio for office, retail, and residential use. The analysis did not include properties that are unlikely to be redeveloped within the planning period. The estimate for housing capacity is for the larger area initially considered for the Downtown Plan. The estimates for retail and office capacity are for the commercial core area. It should be noted that these figures are estimates of capacity and not a projection of actual redevelopment to occur. The estimated capacities are for each type of use. The assumptions for each category of land use would not exclude the potential to achieve the estimated capacity for either of the other land use categories. For example, land required for retail use in this analysis will not reduce the capacity for either office or residential uses. This analysis resulted in the estimates of capacity listed in Table 1 below. Table 1. Development Demand and Capacity in Downtown Use 20-Year Demand Capacity Residential 1,900 dwelling units 3,230 dwelling units Retail 375,000 square feet 640,000 square feet Office 800,000 square feet 1,260,000 square feet Table 1 indicates that downtown's capacity is well in excess of demand for residential, retail, and office development. It is assumed that hotel demand can -44 easily be accommodated by the commercial capacity for retail and office uses. Ctt The B-3 zoning for the commercial core will allow all three of these uses. 22 MAKERS architecture and urban design 0509 rot dratt.00c•6/79/06