Greystar has submitted a proposed project, tentatively named Menlo Flats, to redevelop three parcels with approximately 158 multi-family dwelling rental units and 14,400 square feet of commercial space on a 1.38-acre site. The project site is located at 165 Jefferson Drive in the R-MU-B (Residential Mixed Use-Bonus) zoning district. The proposed project would utilize bonus level gross floor area (GFA), density, and height in exchange for community amenities, as defined through the ConnectMenlo process. Additional density and GFA above the maximum bonus level residential density would be achieved through the density bonus provision of the City’s Below Market Rate Housing Ordinance.
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:
Below Market Rate (BMR) housing agreement
On January 28, 2020, the applicant submitted a preliminary application under the provisions of Senate Bill 330 (SB 330), the Housing Crisis Act of 2019, which became effective January 1, 2020. SB 330 is intended to streamline housing projects that are subject to discretionary review under local zoning laws. The bill establishes a two-step process by which an applicant can “lock in” applicable fees and development regulations by submitting a Preliminary Application. The Preliminary Application does not require as much detail as a typical project application package and ensures a project is only subject to the applicable development regulations and fees in effect at the time the Preliminary Application is accepted as complete by the local jurisdiction. Submittal of a Preliminary Application begins a timeline in which the project must be reviewed and acted upon by the decision-making body and must be followed by a complete development permit application.
Staff has reviewed the Menlo Flats project components and determined that the project is eligible for review under the provisions of SB 330. The applicant must submit a complete development permit application, including all required materials necessary to process the permit, within 180 days of submittal of the Preliminary Application. If no subsequent development permit application is submitted within the allotted time frame, the Preliminary Application will expire.
It is anticipated that an initial study and focused environmental impact report (EIR) would be required for the project.