PURSUIT OF NEW
PARKING AND
HOUSING IN
UNIVERSITY AVENUE
DOWNTOWN
DECEMBER 11, 2023 www.cityofpaloalto.org
2 STAFF RECOMMENDATION (1/2)
Direct staff to:
1. Resume work on a new parking
structure in the downtown core on a
City surface parking lot (previously
designed for on Hamilton / Waverley
Lot D at 375 Hamilton Avenue) and …
Hamilton / Waverley Lot D at 375 Hamilton Avenue
3 STAFF RECOMMENDATION (2/2)
… 2. Pursue refined proposals for potential housing
development on City surface parking lot on Lytton /
Kipling Lot T at 450 Lytton Avenue with direction on
key development goals such as,
a. 100% affordable housing or alternative such as
workforce housing
b. Height allowance and/or density
c. Parking availability on site for housing.
Lytton / Kipling Lot T at 450 Lytton Avenue
4 DOWNTOWN PARKING LOTS AND GARAGES
T
D
A
CC
5 BACKGROUND TIMELINE
Feb 2019
• Council pauses
Downtown
Parking Garage
Project
Dec 2021
• Council directs
staff to issue
RFI for parking
and housing
development
concepts
Dec 2022
• Staff released
RFI
March
2023 -
present
• Staff review of
submittals
• Meetings
• Add’l research/
analysis
6 ALTA HOUSING & MIDPENHOUSING
• Nonprofit organizations incorporated in California in 1970 • Providers of affordable housing and resident services in Santa Clara and San Mateo counties
• Have extensive prior and current experience with 100% affordable housing projects
7 INITIAL PARKING DEVELOPMENT
8 OFF STREET PARKING 10/5/2023
ID Name
Supply Total Permit Daily Total Permit Daily Total Permit Daily A Emerson/Lytton Lot 68 68 2 34 68
B Ramona/University Garage 128 37 53 35
C Ramona/Lytton Lot 51 33 7 39 6 50
CC Civic Center Garage 704 363 225 6 275 161 10 58 43 3 D Hamilton/Waverley Lot 84 69 53 70
E Gilman/Bryant Lot 35 19 19 17 17 13 13
F Florence/Lytton Lot 47 21 24 21
G Gilman/Waverley Lot 53 28 28 27 27 8 8
H Cowper/Hamilton Lot 93 66 52 56
K Lytton/Waverley Lot 97 18 12 12 11 9 7
N Emerson/Ramona Lot 48 42 1 40 40
O Emerson/High Lot 77 65 2 57 77
P High/Hamilton Lot 52 46 35 49
Q High/Alma North Garage 130 72 72 59 59 28 28
R High/Alma South Garage 210 200 116 4 163 99 7 110 37
SL Bryant/Lytton Garage 681 350 102 10 304 127 5 246 44 6 T Lytton/Kipling Lot 52 16 9 21 9 18 4
WC Webster/Cowper Garage 587 168 79 7 165 76 11 84 38 2 Noon 3PM 6PM
9 INITIAL HOUSING DEVELOPMENT
10 DESIRED DEVELOPMENT GOALS
• Housing Affordability
• Housing Unit Mix and Size
• Building Height and Floor Area
• On-site Parking
• Other Considerations
• Ground Floor Retail
• Open Space
• Transitional Height
11 ESTIMATED COSTS
HOUSING
• Cost: $900,000 to $1.1 million per unit
• City contribution:
- Nominal cost long-term ground
lease
- ~ $100,000 per unit
• Other funding sources:
- State funding
- Tax credits
- Loans
GARAGE
• 3/2019 prior cost estimate for Lot D:
$30 million
• Current rough order of magnitude: $35
to $40 million
• City contribution: $12.5 million in-lieu
fees projected available
• Other funding sources:
- State funding
- University Avenue Streetscape
- Assessment district
- Bonds
12 NEXT STEPS
• Council provides refined development parameters
• Alta Housing and MidPen Housing provides
updated proposals based on Council’s refined
parameters
13 STAFF RECOMMENDATION
Direct staff to:
1. Resume work on a new parking structure in the downtown core on a City surface parking lot (previously designed for on Hamilton / Waverley Lot D at 375 Hamilton Avenue) and
2. Pursue refined proposals for potential housing development on City surface parking lot on Lytton / Kipling Lot T at 450 Lytton Avenue with direction on key development goals such as, a. 100% affordable housing or alternative such as workforce housing b. Height allowance and/or density
c. Parking availability on site for housing.
Sunny Tong
Real Property Manager
[email protected]