Greystar has submitted a proposed project, tentatively named Menlo Portal, to redevelop three parcels with approximately 320 multi-family dwelling rental units, 33,100 square feet of office, and 1,608 square feet of commercial space on a 3.20-acre site. The three project parcels are located at 115 Independence Drive and 104 and 110 Constitution Drive in the R-MU-B (Residential Mixed Use-Bonus) zoning district. The proposed project would utilize bonus level gross floor area, density and height in exchange for community amenities, as defined through the ConnectMenlo process.
City staff is evaluating the project proposal to refine the review process, tentative project schedule, required land use entitlements, and the appropriate environmental review. It is anticipated that the following land use entitlements would be applicable to the proposed project:
Lot line adjustment and lot merger
Below Market Rate (BMR) housing agreement
On July 22, 2019, the Planning Commission held a study session to review an initial version of the proposed project. The Commission's feedback on the proposal included the following points:
Additional information requested on the type of screening for the parking garage and recommendation to look at additional screening options.
Recommendation to do additional outreach and work with the surrounding neighborhood on the proposed community amenity.
Recommendation to consider providing more than 15% of the units as BMR units and include a range in income levels (extremely low to moderate), sizes, and bedroom counts on the site.
Consider ways that the publically accessible open space could be activated such as additional seating and live music.
Consider a TDM plan that reduces the total trips for the development more than required 20%.
The applicant is modifying the plans to incorporate elements of the Planning Commission feedback.
An initial study and focused EIR are required for the project. A contract to start the environmental review process was approved by the City Council on August 27, 2019. A Notice of Preparation and Initial Study for the project are currently being prepared.