With the new Downtown Precise Plan in place and a full-fledged economic boom occurring throughout the Bay Area, Redwood City is experiencing a period of intense redevelopment. Construction has taken off with developers bringing new office buildings and condominium projects to meet strong demand generated primarily by growing technology firms. Seeking to leverage this growth to support local community improvements, the City has created Partnership Redwood City. This broad-based program seeks to generate community benefits, including affordable housing, improved schools, parks, transportation systems, programs for the arts, and support for special programs and events.
As part of a multidisciplinary planning team, EPS:
- Collaborated with the City to establish a framework for the community benefits program, including consideration development impact fees, onsite project contributions, and other funding approaches;
- Analyzed the financial feasibility of local real estate development to establish the economic potential for new real estate projects to contribute to Partnership Redwood City; and
- Evaluated the opportunity to establish an incentive zoning program for the Inner Harbor area.
As of early 2016, development projects have contributed more than $27 million dollars to the Partnership Redwood City Program.
Learn more about Partnership Redwood City here: http://www.redwoodcity.org/business/partnership-redwood-city