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Letter from the ApplicantACQUITY REALTY, INC. March 6, 2020 Via Personal Delivery Ms. Naz Pouya Healy, RLA Assistant Planner Community Development Department City of Campbell 70 N. First Street Campbell, CA 95008 RE: Cannery Place // Requested Parking // Community Benefits // General Plan Addition Dear Ms. Healy, Thank you for the input helping us to improve the proposed Cannery Place plan. I am happy to report that we have incorporated all of your suggestions and into the updated plan. Listed below are the individual improvements grouped together by category. Please note that we continue to conduct public outreach and will do so until our plan is approved. Property Improvements • Setback - The requested setback along S. Bascom has been incorporated and will provide additional buffers between traffic and the Cannery Place. • Increased Parking — We have made significant increases to the project's parking. The new plan nearly doubles the number of parking spaces of our original plan. The increase in parking has been defined by a highly respected consultant. Hexagon Transportation, who reviewed the initial plans and recommended a parking plan optimized to service Cannery Place's mixed use plan. Hexagon's parking analysis has been incorporated into our updated submittal. We will continue to refine this plan going forward. New General Plan Category Per your request, we instmcted our land use attorney to review the City of Campbell's General Plan and promulgate a new General Plan category that will permit the plan and scope of what is envisioned at Cannery Place. We have titled this new category "Major Corridor Mixed Use" and is attached hereto as Exhibit A. 333 W. Santa Clara St., Suite 805/810, San Jose, CA 95113 T: 408.913.8001 AcquityRealty.com Benefits The project generates variety of benefits to the City, its residents, its employers and visitors. Listed below are benefits that we believe Cannery Place provides the community as a whole: Fiscal Benefits 1 - Increased Tax Revenues - Hotel -The inclusion of a luxury hotel witliin the Cannery Place plan is projected to generate |1,500,000 in additional tax revenue per year. The hotel remains the original benefit to the project's vision and we continue to believe the hotel will generate a multitude of community benefits: supporting visiting guests, serving as a new social gathering hub and acting as a prime local venue to host community events for the City's schools, businesses and non-profits. 2 - Increased Property Tax Revenues. With a construction budget estimated to be in excess of $225,000,000; Cannery Place should generate, depending on the City's defined share with the County, an additional $250,000 per year in property tax revenue. Please note: The above taxes should surpass $1.75 million per year in the first year of operation and that we would expect these revenues to increase annually thereafter. Please also note that communities with densities above 50 units an acre are significantly less expensive to provide public services such police aiad fire and schools. Community Benefits 1 - Reduced Traffic Impact: The inclusion of a hotel and residential units is the least traffic intensive plan we could offer for this site. Medical Office, Technology Office or high impact retail concepts would generate significantly higher traffic counts at peak periods. Our plan provides a wcll-balanccd plan that impose very light traffic impacts. 2 — Artistic Public Space: Cannery Place's design concept is centered around a public "art plaza" activated by public services such as restaurants and cafes set back safely away from streets and traffic. The art plaza will provide a common gathering space to enjoyed by the public. Included within the updated plan is an artistic Water Tower intended to create a "sense of place" and a shared iconic community identity for both the art plaza and Cannery Place. 3 - Public Art.- We do not believe it is possible to create an "art plaza" without actual public art so our plan will create a schedule of rotating installations that will co-exist with permanent landscape features and artwork. 4 - Significant Public Parking: The improved parking plan allows for significant public parking that can serve both on-site and off-site parking needs. 5 - Shared Automobiles: We see the adoption of significant new transportation trends as private car ownership migrates to a shared, rent on demand model enabled by new companies such as Zipcar, Maven, Getaround, and SilverCar. Even traditional manufacturers such as BMW and Ford recognize this trend and now offer shared automobiles services. It is our intent to incoq)orate these shared services into the Cannery Place project to help reduce the reliance on auto ownership and transportation. 6 - Shared Bikes and/or Scooters: We believe standardized and nearly ubiquitous services such as Bird, Scoot, Lime and Lyft will increase "auto-less access" to the VTA Light Rail Station, Downtown, The Pmneyard and nearby restaurants, stores and markets. It is our intent to incorporate these shared services into the Cannery Place project. 7- Private Bike Storage and Parking: Bicycles serve a primary mode of transportation for commuters and therefore providing dedicated parking for owned bicycles we believe is essential. It is our intent to incorporate these shared services into the Cannery Place project. Ms. Healy, thank you again for your help and consideration. We sincerely believe that Cannery Place offers the City of Campbell a road map on how it can address the housing crisis while also generating critical additional tax revenues, building quality community spaces and leveraging shared economy transportation models all while creating community benefits that improve the experience and access to all of Campbell's residents. If our Application to Amend the General Plan is approved, we look forward to working with the City to and the community to produce a truly exceptional experience and become the keystone to activating "The Portals" to Downtown from S. Bascom and The Pmneyard that has been envisioned by City leaders for decades. Kindest regards. ;ennis L. Randall, Jr. President cc: Paul Kermoyan, City of Campbell John Prinze, Acquity Realty Inc. Attachments: Revised Application Exhibit A - Proposed Addition to General Plan - Major Corridor Mixed Use EXHIBIT A PROPOSED ADDITION TO GENERAL PLAN Title: Major Corridor Mixed-Use Requirements: This General Plan designation provides for both vertical and horizontal mixed-use developments with complementary uses, including high-density residential up to 250 units/acre, commercial uses including hotel, lodging, public assembly, retail and/or professional office which shall not be less than 20% of die total project area, all located along major arterial roadways within the City, including, E. Hamilton Avenue, S. Bascom Avenue and E. Campbell Avenue, or other specified primary roadways. Uses on particularized parcels with the designation Major Corridor Mixed Use may contain a vertical mix of uses or be a stand-along mixture of residential or commercial uses. In no case shall Major Corridor Mixed-Use be located directly adjoining single family home neighborhoods and shall additionally be developed in a manner that integrates and preserves the adjoining neighborhood and shall in no event exceed 75 feet in height except for artistic or mechanical elements related to facilitate rooftop gardens and amenities and/or handicap access and there shall be a 1 acre minimum parcel requirement. In certain locations, ground floor retail or other active ground floor uses are required for a portion of the building frontage in order to create a pedestrian oriented environment. Parking fronting the main street shall be prohibited and shall be located primarily under and/or behind the proposed development facade. As appropriate, parks, plazas and open space are located and designated to foster active and comfortable social gathering spaces.