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Attachment 4Imagine the Possibilities Response to the Request for Information (RFI) for Los Gatos Downtown Parking Structure ATTACHMENT 4 ATTACHMENT 4 Content 7.1. Statement of Interest 7.2. Development Team Summary 7.3. Experience of the team and comparable projects completed by the team 7.4. Proposed Project Description 7.5 Conceptual Design 7.5.1 Project Height 7.5.2 Mix of Uses 7.5.2.1 How will the use address the Town’s BMR requirement 7.5.2.2 Square foot size of each space category 7.5.2.3 Total number of parking spaces expected 7.5.3 Conceptual Design, either verbally or illustrated, for the Main St. Elevation 7.5.4 Additional design documentation as necessary to convey the intent of the project 7.6 Financing Strategy 7.6.1 Overview of financing strategy 7.6.2 Preliminary project pro-forma documentation 7.6.3 Information on the development team’s financial capacity for the project 7.7 Properties included in the proposal, including incorporation adjacent properties not owned by the town 7.8 Easements, access rights, public safety access, including a description of how to address each 7.9 CEQA 7.9.1 Traffic mitigation ideas especially around traffic and neighborhood streets 7.10 Community Outreach Plan 7.11 Sustainability elements that could be a part of the project 7.12 Operations plan to include: 7.12.1 Property Management 7.12.2 Free or Paid Parking 7.12.2.1 Reserved Parking 7.12.2.2 Time Limitations 7.13 Identify any development and building code issues requiring resolution 7.14 Additional information relevant to this project ATTACHMENT 4 7.1 Statement of Interest ATTACHMENT 4 Development Team Summary ATTACHMENT 4 7.2 Development Team Summary Developer Barry Swenson Builder Case Swenson President Josh Burroughs Senior Development Manager Scott Connelly Senior Development Manager Cam Schwab Development Manager / Financial Analyst Mandy Brown Development Manager / Financial Analyst Architect Barry Swenson Builder Architectural Daniel Sell, AIA, LEED AP Director of Architecture Lawrence De Santis Project Designer David E. Meads Project Designer General Contractor Barry Swenson Builder David Gibbons Senior Vice President ATTACHMENT 4 Tamien Place Condominiums Our Team Builder Case Swenson President Prior to joining Barry Swenson Builder in 2013, Case managed his own construction company, Swenson Development & Construction (SDC) for over two decades. Throughout his career, Case has successfully managed the construction of all building types, including residential, commercial, educational, financial projects and multiple public works jobs. As president of BSB, Case is responsible for the operations as well as project development and construction, real estate development, property management and accounting. He provides executive support throughout the life cycle of each project from contract negotiations, pre-construction planning and design with clients and project team to construction feasibility, monitoring cost and schedule through the final stage of project completion. He graduated from the University of Colorado and is an active member of various community organizations such as San Jose/Silicon Valley Chamber of Commerce, First Tee of San Jose and is chairman of the Metro A Trust. Barry Swenson Builder Vendome Apartments ATTACHMENT 4 Our Team Development Josh Burroughs Senior Development Manager Barry Swenson Builder Josh Burroughs has worked with Barry Swenson Builder since 2006 and has carved a niche for himself within the company as a Senior Development Manager. Mr. Burroughs is a graduate of Cal Poly with a degree in Business Administration. His background includes managing land acquisitions, lease and contract negotiations, financing, liaisons with governmental agencies, neighborhood communities, client relationships, permits and construction/development contracting. He has directed numerous project teams and is proficient in collaboration and orchestration of lenders, contractors, and design professionals. A strong focus of his career has been on Downtown Community Activation and Transit Oriented Development, for which he has a personal passion having grown up in the area. He has personally entitled approximately 1500 multi-family dwelling units in numerous Silicon Valley jurisdictions many of which have been mass transit opportunities in downtown locations. Some of his most recent project accomplishments include the approval of North San Pedro (a three phased, three tower project), Park View Towers (a multi-phase condominium project site totaling 220 units with a $10M historic community rehabilitation component), and the 4th Street Homes (an urban infill mixed use project in San Jose). Mr. Burroughs is on the board of the Urban Land Institute Silicon Valley and the Rotary Club of San Jose. 4th Street Homes San Jose Park View Towers North San Pedro Towers ATTACHMENT 4 Our Team Development Scott Connelly Senior Development Manager Barry Swenson Builder Scott Connelly has 10 years of experience in real estate development at Barry Swenson Builder. His experiences include: managing land and building acquisitions, lease and contract negotiations, financing, liaison with governmental agencies, managing community and client relationships and obtaining planning entitlements and permits. Mr. Connelly was born and raised in Silicon Valley, and is a graduate of Oregon State University with a degree in Business Administration. While at BSB, he has been involved in the acquisition of more than 700,000 square feet of industrial, office and retail buildings located in and around Silicon Valley. In addition to land acquisition, he has received approval for The Ohlone project, an 800 unit mixed-use transit oriented development with 30,000 square feet of commercial retail space located in San Jose, CA. The Century Towers mixed-use project comprised of 376 residential units with 15,000 square feet of commercial space on the ground floor has just completed construction of it’s twelfth vertical floor. Not only did this project top off at twelve floors on budget, but it was also completed ahead of schedule and with zero change orders. This Summer 2015, Mr. Connelly completed Meridian at Midtown, a 200 unit mixed-use project with 30,000 square feet of commercial retail space also located in San Jose. Plaza Condominiums Midtown Mixed Use ATTACHMENT 4 Our Team General Contractor David Gibbons Senior Vice President Barry Swenson Builder Lofts on the Alameda Carneros Village Lofts David is currently licensed as both a general contractor and a real estate broker. For over 32 years, he has been responsible for hundreds of projects with BSB, totaling in excess of $1 billion. He has developed expertise in historical renovation and new construction of commercial, industrial, residential, retail and medical facilities. David manages a team of skilled project managers and superintendents.. He graduated with honors from Cal Poly, San Luis Obispo with degrees in construction and structural engineering. ATTACHMENT 4 Vendome Place Apartments Our Team Architecture AIA, LEED AP Director of Architecture BSB Architectural Dan joined the staff of Barry Swenson Builder-Architectural in 1991 after designing and managing projects in the Midwest and Southern California. Dan has significant experience in successfully integrating the design concepts of complex projects into a coordinated set of production drawings. His skills in project management, documents & administration during construction are keys to his ongoing success. Dan is in charge of the day-to-day management of the architectural department. Since joining BSB – Design, Dan has been involved with numerous commercial, residential and medical projects of various scale. From Project Manager on the Ryland Mews Condominiums in San Jose (131 Units) to the Phase One and Two Fresno Herndon Medical Plaza, Dan is accomplished at achieving an extremely high quality of finished product. His other recent experience includes: Echelon Corporate Office Building, 75,000 square feet Koret Athletic Training Facility, San Jose State University, 15,000 square feet TownePlace Suites San Jose, Redwood Shores & Campbell (100 room hotels) The Plaza Condominiums, San Jose – (56 units) Midtown Townhomes, San Jose – (66 units) Parkview Senior Homes, San Jose - (140 units) Osio Plaza, Monterey – Mixed Used apartments and six screen Movie Theater. Vendome Place, San Jose, (High Rise – 77 unit apartment) Daniel Sell Education: University of Wisconsin, Milwaukee - Bachelor of Science in Architectural Studies University of Wisconsin, Milwaukee - Master of Architecture Professional: Registered Professional Architect Licenses: California License No: C19629 Wisconsin License No: 5422 National Council of Architectural Registration Boards, (NCARB) American Institute of Architects, (AIA) LEED AP Parkside Villas Townhomes Osio Plaza Mixed Use ATTACHMENT 4 7.3 Experience of the Team and Comparable Projects Completed by the Team and Development Capacity ATTACHMENT 4 Location 350 Alvarado Street, Monterey, California 93940 Project Type Downtown Mixed-Use Osio Plaza Data 6 Theaters: 48 – 185 seats per theater Concession / Café: 2,141 s.f. / Retail: 2,246 s.f. 30 Apartments: 407 to 557 s.f. per unit General Contractor Barry Swenson Builder Developer Green Valley Corporation Architects Barry Swenson Builder Architectural Thatcher & Thompson (Conceptual Design) ATTACHMENT 4 Completed in 1999, Osio Plaza is a fine example of design satisfying multiple requirements within a tightly designed set of parameters. Osio Plaza satisfies downtown Monterey’s needs for entertainment, meeting space, causal dining and retail space along with affordable housing in a single building of Spanish style design consistent with Old Monterey. Its thirty affordable apartments enhance the employment offerings in the city. The bi-level pedestrian plaza connects two major downtown thoroughfares, creating an inviting environment that welcomes tourists and local residents alike. Green Valley Corporation partnered with the Housing and Property Management department of the City of Monterey to provide the development with low interest rate financing. Osio Plaza I. Description / Quality / Amenities II. Community Outreach III. Current Status Barry Swenson Builder responded to a RFP to design and develop a City owned parcel that had been vacant for nearly 20 years. This project was widely accepted by the community. The project was completed in 1999 and has been a welcomed addition to the Old Monterey district since that time. The thirty affordable apartments are currently 100% leased. ATTACHMENT 4 Osio Plaza IV. Project Team V. Development Cost & Financing Summary VI. Equity & Debt City of Monterey Housing and Property Management 669 Van Buren Street Monterey, CA 93940 Attn: Rick Marvin Phone: (831) 646-3995 Marvin@ci.monterey.ca.us Total Costs: $5,564,871 Rabobank Debt: $2,065,000 City of Monterey Debt: $2,100,000 Green Valley Corporation, dba Barry Swenson Builder provided the equity for the project. Bank of Salinas provided the debt. Bank of Salinas has since been acquired by Rabobank, NA. The City of Monterey provided additional debt for the project. City of Monterey Redevelopment Agency 580 Pacific Street City of Monterey City Hall Monterey, CA 93940 ATTACHMENT 4 Osio Plaza XI. Ground Lease X. Business Relationship w/ Public Agency Yes, there is a land lease with the City of Monterey. Yes, the City of Monterey and Green Valley Corporation have a land lease agreement in place. VIII. Lenders Rabobank, N.A. Attn: Stan Wright Relationship Manager 301 Main Street, Salinas, CA 93901 (831) 737-1475 VII. Primary Sources of Cash Barry Swenson Builder provided the cash required during the pre-development process of this project. ATTACHMENT 4 XI. Site Plan Osio Plaza ATTACHMENT 4 Lofts on the Alameda Location 925 The Alameda, San Jose, California 95113 Project Type Residential Live / Work Lofts Data 40 New Loft Condominiums Units: 1 Bedroom and 1.5 Bathrooms plus Bonus Room General Contractor Barry Swenson Builder Developer Green Valley Corporation Architect Barry Swenson Builder Architectural ATTACHMENT 4 The Lofts on the Alameda are a one-of-a-kind for sale residential live / work gated community located on the prestigious Alameda Avenue in San Jose. The live / work lofts are approximately 1,100 square feet in size. The community is located near many specialty shops and restaurants. The 40 unit development boasts high end finishes including granite counter tops, stained concrete floors and stainless steel appliances. Parking is addressed through a two level parking structure which provides 109 parking spaces for the residents. The project is comprised of four stories and has a height of 65 feet. The project provides 40 dwelling units to the acre. The Lofts on the Alameda is a great example of using sensitive architecture that maintains the existing feel of the streetscape. I. Description / Quality / Amenities II. Community Outreach III. Current Status Lofts on the Alameda Barry Swenson Builder worked closely with the surrounding neighbors to gain their approval and support for the project. In addition to working with the neighbors, the developer held a larger workshop with the community at large. The project was completed in 2008. We sold approximately 28 units and have rented the balance of the units until market conditions turn around. ATTACHMENT 4 IV. Project Team V. Development Cost & Financing Summary VI. Primary Sources of Equity & Debt Lofts on the Alameda Green Valley Corporation, dba Barry Swenson Builder was the developer, architect and general contractor. The San Jose Redevelopment Agency provided 12% of the equity for 12% of the profits. They also attended all neighborhood meetings and were influential with the project approvals. Total Cost: $13,000,000 Amount Financed: $10,000,000 Green Valley Corporation, dba Barry Swenson Builder and the Redevelopment Agency were responsible for the equity in the project. Bank of America provided for the debt. VII. Primary Sources of Cash Green Valley Corporation, dba Barry Swenson Builder provided the cash required during the pre-development process of this project. ATTACHMENT 4 Lofts on the Alameda VIII. Lenders Bank of America Attn: Anna Chambers 530 Lytton Avenue, 3rd Floor, Suite 301 Palo Alto, CA 94301 (650) 853 4543 XI. Ground Lease X. Business Relationship w/ Public Agency There is no ground lease in place. The Redevelopment Agency of the City of San Jose was involved in the project. The SJRDA provided 12% of the equity through land contribution. ATTACHMENT 4 Lofts on the Alameda XI. Site Plan ATTACHMENT 4 Healdsburg Plaza Location 112 Matheson Street, Healdsburg, California Project Type Residential Retail Data Units: 1 Bedroom and 1.5 Baths Bonus Room General Contractor Barry Swenson Builder Developer Green Valley Corporation Architect Barry Swenson Builder Architectural ATTACHMENT 4 Healdsburg Plaza is located in the Sonoma County wine country of Northern California. The project is located within the historic district of Healdsburg, directly across from the town square. This is a busy and trendy tourist area with a strong mix of retail and dining establishments. The project had to conform to the local and historic flavor, but also be modern and efficient. While the design is reminiscent of historic storefront buildings of the mid 1800’s, it is actually two large structures. The facades are broken into many surfaces and give the illusion of being several small, independent buildings. The project is one of mixed use; tenants are mostly retail on the first level and office on the second. Both Phase I and II have been awarded top ten honors for design and environmental fit. The project has been praised for mixing modern and historic elements to create a unique presence. Healdsburg Plaza I. Description / Quality / Amenities II. Community Outreach III. Current Status Barry Swenson Builder held a series of community meetings as required by the City of Healdsburg to explore architecture and urban planning. The first phase of the project was completed in 1988 and the second phase of the project was completed in 1998. The property is leased and is a property that contributes to the economic vitality of downtown Healdsburg. ATTACHMENT 4 Healdsburg Plaza IV. Project Team V. Development Cost & Financing Summary VI. Equity & Debt Green Valley Corporation, dba Barry Swenson Builder was the developer and architect. Deeton and Stanley was the General Contractor. The City of Healdsburg Redevelopment Agency participated in the project by entering into a land lease with the developer. Total Cost: $5,500,000 Amount Financed: $3,100,000 Green Valley Corporation, dba Barry Swenson Builder was responsible for the equity required by the project. Luther Burbank Savings provided the debt for the project. VII. Primary Sources of Cash Green Valley Corporation, dba Barry Swenson Builder provided the cash required during the pre-development process of this project. ATTACHMENT 4 Healdsburg Plaza VIII. Lenders Luther Burbank Savings Attn: Dennis Lucas 804 Fourth Street Santa Rosa, CA 95404 (707) 578-9216 XI. Ground Lease X. Business Relationship w/ Public Agency The City of Healdsburg Redevelopment Agency has entered into a land lease with Green Valley Corporation. The lease term is for 40 years and Green Valley Corporation has the right to purchase the land at the conclusion of the 40 year term. The monthly lease payment is based upon the amount of income being generated by the property. To help protect the Redevelopment Agency, there is a minimum monthly rent due, regardless of the income that is generated by the property. ATTACHMENT 4 XI. Site Plan Healdsburg Plaza ATTACHMENT 4 Neighborhood Parks & Public Plazas •Del Monte Park Master Plan – San Jose, CA •Bestor Art Park – San Jose, CA •Canyon Creek Park – San Jose, CA •O’connor/Saddlerack Park – San Jose, CA •Buena Vista Park – San Jose, CA •Great Oaks Park – San Jose, CA •Greystone Park – San Jose, CA •Watson Dog Park – San Jose, CA •Pfieffer Park – San Jose, CA •Meadowfair Park – San Jose, CA •Evergreen Park – San Jose, CA •Thunderbird Park – San Jose, CA •San Jose Christian College Park – San Jose, CA •Santa Cruz Harbor Plazas- Santa Cruz, CA Commercial and Retail Projects •Monterey Bay Aquarium Research Institute - Moss Landing, CA •Hyundai International Headquarters - San Jose, CA •Seagate Technologies Corporate Headquarters - Scotts Valley, CA •CTB McGraw Hill - Monterey, CA •Salvation Army Outlet Center - Gilroy, CA •Paloma Medical Center - San Jose, CA •Stevens Creek Center - San Jose, CA •Santa Teresa Medical Office Center - San Jose, CA •The Alameda Office Complex - San Jose, CA •Ultratech Building - San Jose, CA Project Experience A Barry Swenson Builder Project * * * Multi-Family & Senior Housing (Medium to High Density) •Madrone Plaza - Morgan Hill, CA •Royal Court Townhomes - Morgan Hill, CA •Jasmine Square - Morgan Hill, CA •Harvest Park - Gilroy, CA •Vista Meadows - Hollister, CA •Canterbury Townhomes - Aptos, CA •Seacliff Highlands - Aptos, CA •Pacific Grove Senior - Pacific Grove, CA •Nuevo Amanecer - Pajaro, CA •Monticelli Apartments - Gilroy, CA •Parkhurst Terrace - Aptos, CA •Minto Road Housing - Watsonville, CA •Via Del Mar Apartments - Watsonville, CA •Midtown Family & Senior Apartments - San Jose, CA •Plaza - San Jose, CA •Century Center Apartments - San Jose, CA •Saratoga Retirement Community - San Jose, CA * * * * ATTACHMENT 4 7.4 Proposed Project Description ATTACHMENT 4 7.4 Proposed Project Description Barry Swenson Builder plans to create a walkable mixed-use environment to replace the existing parking lot. In doing this Los Gatos will gain a vibrant project adding to the community and allowing for six additional BMR housing units, added retail, and more public parking stalls on an underutilized site. Along with site programming Barry Swenson Builder has identified four themes and concepts that we feel are necessary to incorporate in order to make this mixed use development a success. The four themes include the following: •Downtown Revitalization and added public parking facilities •Mixed -Use & Active Retail opportunities. •Pedestrian friendly design & build-out. •Affordable Housing by design. We feel these aforementioned themes are crucial to the success of revitalizing and enlivening Los Gatos’ unique and beautiful downtown. It is our goal to incorporate all of these themes and values into the development if we are chosen as a site Developer. ATTACHMENT 4 7.5 Conceptual Design 7.5.1 Building Height •35 Feet minimum 7.5.2 Mix of Uses 7.5.2.1 BMR Requirement •6 BMR Housing Units 7.5.2.2 Square Footage of Each Category •Total Residential Gross Square Footage: 53,040 •Total Commercial Gross Square Footage: 11,458 •Total Parking Gross Square Footage: 109,200 •68 Residential Units •Average Square Footage of 650 SF 7.5.2.3 Total number of Parking Spaces •312 Total Parking Stalls •39 Retail Parking Stalls •102 Residential Parking Stalls •171 Public Parking Stalls ATTACHMENT 4 7.5.3 Conceptual Design From the North/East – North of the site is a fitness studio and a Catholic School, we would like to remain close to the city’s height restrictions at 35 ft. in order to not interfere or overshadow the existing buildings of the neighborhood. To the East is the “La Canada Building” which represents the historic architecture prevalent in Downtown Los Gatos. By creating something new that blends with the old we hope to compliment this original building from 1891. From the South/West – South of the site sits a mixed-use building at 223 W Main St. with traditional and sea-side architecture. Just past that, sitting further west of the site, 190 W. Main St. incorporates a more Mediterranean architecture style that is often associated with Los Gatos. We hope to blend our building into the existing streetscape to create a cohesive vision moving from bustling Santa Cruz Avenue into residential neighborhoods. 7.5.3 Conceptual Design Our conceptual plans are in close alignment with the Town of Los Gatos’ goals and objectives. Barry Swenson Builder is proposing a development that will generate outcomes that are desired by the Town . A strong team focus for this project is ensuring the development blends with the existing character of the neighborhood. With 68 new residential units in downtown Los Gatos these new affordable by design product types will help attract young people and families to the downtown. This critical mass will create a core of residents to support the proposed retail. This mixed use master planned vision will help generate a greater tax base and decrease the number of daily car trips. The major components have been selected based on information provided in the RFI; however further refinement of all of these elements needs to take place once community outreach begins. Design Considerations To the North of the Site To East of the Site To the South of the Site To the West of the Site ATTACHMENT 4 7.5.3 Conceptual Design 7.5.4 Additional Design ATTACHMENT 4 7.5.3 Conceptual Design 7.5.4 Additional Design ATTACHMENT 4 7.5.3 Conceptual Design 7.5.4 Additional Design ATTACHMENT 4 7.5.3 Conceptual Design 7.5.4 Additional Design ATTACHMENT 4 7.6 Financing Strategy 7.6.1 Overview of Financing Strategy Santa Cruz County Bank – Mixed Use I. Project Team Green Valley Corporation, dba Barry Swenson Builder will act as the developer, general contractor, and architect. The Town of Los Gatos will participate in the project by entering into a ground lease with the developer. II. Development Cost & Financing Summary III. Equity & Debt IV. Primary Sources of Cash Green Valley Corporation, dba Barry Swenson Builder will provide the cash required during the pre-development process of this project. Green Valley Corporation, dba Barry Swenson Builder will be responsible for the equity required by the project. Total Cost: $29M Amount Financed: $17.7M Standard Construction Loan / Permanent Financing w/ Developer Equity ATTACHMENT 4 7.6.2 Preliminary Project Pro-Forma Description The Saint George 833 Front street Santa Cruz, California Residential over retail Completed 1993 7.6 Financing Strategy DIRECT COSTS: $22.3 M INDIRECT COSTS: $5M FINANCING COSTS: $1.7M LAND COSTS: $0 / GROUND LEASE ($150k / year) TOTAL PROJECT COST: $29M PROJECT LEVEL RETURN ON COST (BASED ON NOI BEFORE DEBT SERVICE) ASSUMING NO PARKING REVENUE AND MARKET RENTS FOR COMMERCIAL AND RESIDENTIAL: 5.5% PROJECT LEVEL RETURN ON COST W/ $100 / stall / month public parking revenue: 6% *Assumes $35-40k / stall for underground parking *Assumes 15% global cost delta increase for Prevailing Wage / Commercial Rates due to City Owned Land (as compared to a typical development) ATTACHMENT 4 Apartments 1525-1541 Almaden Road San Jose, California Residential over podium 7.6 Financing Strategy Completed 2006 Mr. Kevin Herr Vice President Wells Fargo Bank 121 Park Center Plaza San Jose, CA 95113 Phone: (408) 277-6185 e-mail: zherr@wellsfargo.com Mr. Matthew A. Doerr Senior Loan Associate iStar Loans LLC 2727 East Imperial Highway Brea, CA. 92821 Phone: (714) 961-4727 e-mail: mdoerr@istarfinancial.com Mr. Guy J. Steffens Senior Vice President Bank of the West 1 Almaden Blvd., Ste. 200 San Jose, CA. 95113 Phone: (408) 299-1633 e-mail: guy.steffens@bankofthewest.com Construction Lenders/Permanent Financing Mr. Mike LeBrun Senior Vice President, Managing Director Overland Realty Capital 33 Arch Street Boston, MA. 02110 Phone: (781) 848-7251 e-mail: mlebrun@overlandcapital.com Mr. Aaron Giovara Principal Pacific Coast Capital Partners, LLC 150 California Street, 22nd Floor San Francisco, CA. 94111 Phone: (415) 732-7646 e-mail: Giovara@pccpllc.com Equity Partners 6 Almaden Road “Over the years Barry Swenson Builder has responded to numerous Requests for Qualifications and have successfully been awarded a number of them. Their efforts to revitalize key downtown infill properties and create a vibrant and active community are commended. As the Director of Transactions and Real Estate with the former Redevelopment Agency of the City of San Jose I have had the pleasure of working with them on many of the downtown developments. Their can do attitude is exactly what is needed to get the job done.” - Pete Larko 7.6.3 Information on the Development Team’s Financial Capacity for the Project – Financial Contacts ATTACHMENT 4 7.7 Properties Included in the Proposal After Properties to be Included in the Proposal: APN 510-44-039; 28,466 SF APN 510-44-037; 6,034 SF APN 510-44-069; 11,501 SF Total Lot Size: 1.056 Acres / 46,001 Square Feet ATTACHMENT 4 7.8 Easements, access rights, public safety access, including a description of how to address each •Easement on Victory Lane •The project will essentially widen Victory Lane at the site of parcel 510-44-037 in order to mitigate added traffic due to the project and provide accessible ingress and egress of the garage. There will also be a pedestrian route including stairs and an elevator as well as a loading zone •We will keep the cars that are entering and exiting off of Main Street which will add to the pedestrian-friendly feeling that the project strives to create •The project will also include two levels of underground parking which extends under Victory Lane to maximize public parking facilities for the town •Access Rights •The right to access the garage on Victory Lane will be for the public, the residents, and the customers of the retail component of the project •Public Safety Access •Public Safety can access the entrance to the project either via Victory Lane or on Main St. ATTACHMENT 4 7.9 CEQA •7.9.1 Traffic mitigation Ideas especially around traffic and neighborhood streets •In our plans, the widening of Victory Lane will take the ingress and egress of the garage off of public property and bring it onsite, this will allow any backfill of cars to stay off of Main Street •Included in the project are $527,400 in Traffic Mitigation Fees to account for the 600 new average daily trips generated [at $879 per new average daily trip generated per Master Fee Schedule] ATTACHMENT 4 7.10 Community Outreach Plan It is our goal to engage the community in the development process of these sites. As we have learned in our previous developments this aspect of the development process is extremely important to ensure that what we are creating fits within the cities and the communities needs. We would hold community meetings as necessary to reach out to the community for their input on numerous aspects of the developments and would encourage their support for the various project sites. This outreach program will provide an open forum for the development team to become fully educated on all of the key issues associated with the development. These discussions will also provide an opportunity for each of the key stakeholders to express their desired outcome for the project sites. It is our goal to create a downtown that the city and the community desire. Community Engagement and Involvement Lofts Bar and Bistro – San Jose (on the left) Lofts Bar and Bistro – San Jose Lofts Bar and Bistro – San Jose ATTACHMENT 4 7.11 Sustainability Projects that Could Be Part of the Project Barry Swenson Builder has been an innovator in the concept of using natural building practices and has applied sustainable building practices to our projects over the past three decades, even when it was not popular to do so in the early years. Our goal is to create a truly energy efficient development with the lowest carbon footprint. Some of the features we envision for these Morgan Hill sites would be: •70-80% of all construction debris will be recycled. •Cabinets made of recycled content without formaldehyde and VOC free. •Low emission paint. •Flooring made of recycled content. •Window rated for efficiency and located for solar orientation. •Weather sensitive irrigation control. •High efficiency water fixtures using less than 1.6 gallons per flush. Green Valley Corporation will make every possible effort to ensure that all of the buildings included in this development are built to Build It Green or LEED standards. Green Building Features Westcliff Townhomes, Santa Cruz Santa Cruz Water Department LEED Certified - Gold ATTACHMENT 4 7.12 Operations Plan 7.12.1 Property Management • Barry Swenson will manage all aspects of the property including retail and residential components 7.12.2 Free or Paid Parking • It is our goal to o ffer free parking available for all users of the parking garage. This will need to be reviewed further as the city feedback takes shape with the proposed project. Depending on the economics, the project may need to broach the 35 foot height proposed and elevate the parking above ground in order to financially allow for free parking. 7.12.2.1 Reserved Parking • There would be a restricted area of parking reserved for the residential component of the project, whereas the remaining parking would be open to the public. 7.12.2.2 Time Limitations • The goal will be to offer free unlimited parking in this lot as there is in the six public lots within one or two blocks of the downtown area. Overnight parking will be limited to residents of the residential component ATTACHMENT 4 7.13 Identify any Development and Building Code Issues Requiring Resolution •In order to meet all of the Town’s goals for free additional parking, BMR units, and a ground lease, an exception may be needed to the Town height ordinance to allow enough density to cover the costs of the aforementioned items. •Project will need zero development setbacks on all sides. •Project will need to limit the height of the retail / commercial space 15’ or less in clear height on the ground floor. •Project will ultimate flexibility on the use for the commercial / retail in order to be financially viable (aka, no limit by the Town on the types of commercial / retail use on the site). •Project will require no stepping back on upper levels of the development to maximize every rentable square foot to cover the costs of the non-revenue generating portions of the project •Exceptions may be needed for width requirements of alleys / drive aisles, etc to maximize usable area on the property and to maximize the amount of parking. •Project will need to verify any prevailing wage requirements •Project may need to request a reduction in required parking ratio for the residential portion of the project ATTACHMENT 4 7.14 Additional Information Relevant to this Project Based on issues in the Housing Element of Los Gatos, we believe that this project addresses many needs for the town in addition to addressing the parking demand. •The smaller units address the need for affordable housing in Los Gatos by: •Adding to the rental market in Los Gatos and preventing the 38% of renters currently overpaying for housing; classified as >30% of a person’s income •Providing 6 Below M arket Rate dwelling units toward the 619 units that need to be created in Los Gatos before 2023 •The smaller units also create an opportunity for younger people to get into the Los Gatos market therefore diversifying an aging community with a median age of 45 years •Applicant would be willing to provide additional BMR units if it can work with the Town on the height limit for this property ATTACHMENT 4 ATTACHMENT 4