Agenda Item #8 Desk ItemMEETING DATE: 10/17/11
ITEM NO: 8
DESK ITEM
DATE: OCTOBER 17, 2011
TO: MAYOR AND TOWN COUNCIL
FROM: GREG LARSON, TOWN MANAGER
SUBJECT: Planned Development Application PD-11-003. Project Location: 15055 & 15075
Los Gatos Boulevard. Property Owner/Applicant: William Hirschman &
Elizabeth Dodson.
Consider a request for approval to amend a Planned Development to convert
existing structures into commercial condominiums and allow uses permitted in the
CH Zone on property zoned CH:PD. APN 424-07-096.
REMARKS:
In response to Council questions, the following is a summary of comparable lease rates for
properties along Los Gatos Boulevard that have recently leased: medical office is ranging from
$2.35-$2.60/square foot, office is ranging from $2.00-$3.15/square foot, and retail/restaurant is
ranging from $2.30-$4.00/square foot. The infouuation was provided to staff by a broker that is
active in the Los Gatos Boulevard area.
PREPARED BY:
Jessica von Borck, Economic Vitality Manager
Reviewed by: i;:';? lAssistant Town Manager Town Attorney Finance
N:\MGR\AdminWorkFiles\2011 Council Reports \I0.17.11 Desk Item #8. 15055 and 14075 LG Blvd..doc
Updated: 7/1/11