The plot of land at 333 Main Street has sat vacant for years, a “giant hole,” said Todd Regonini of San Mateo-based developer Saris Regis. But if the city approves plans for a 132-unit apartment complex near Main Street and Veterans Boulevard, construction could begin as early as September.
Many local housing organizations and analysts have repeatedly stressed the housing dearth in San Mateo County. The $42 million development adjacent to Redwood Creek would provide units for 15 percent below market rate housing, an affordable option for residents in the area, Regonini told the Chamber of Commerce Tuesday.
The city’s Architectural Review Committee has already reviewed the proposal and it will now go to the planning commission sometime in late July or early August, then the city council will ultimately review it in late August or early September. If construction stays on track, residents could move in as early as 2013.
Because the proposal falls in line with the designated land use according to the North Main Street Precise Plan, the city will not have to write an environmental impact report (EIR.)
Developers said they wanted to build a residence within walking distance to downtown Redwood City and public transit.
Planning Commission board member Nancy Radcliffe said the planning commission particularly liked the potential connection to downtown Redwood City, a mere eight-minute walk.
The close proximity to the creek could also be a chance to connect the waterfront to the downtown.
“The creek is a huge amenity,” Regonini said. “And rather than everything turning its back on it, we want the residents to be able to see it.”
Of the 132 units, 70 would be one bedroom, 59 would be two bedroom units and just a handful would be three bedroom, units that the developers might just give to the city as below-market rate housing, Regonini said. The development would be no more than four stories, following the precise plan.
Because the area is near the creek, the developer has purchased bay flood insurance because the land is in a potential flood zone.
The building itself would strive to be as energy efficient as possible, aiming for a LEED silver designation, using the internationally-recognized green certification system. The development would have high efficiency boilers for water heating, upgraded windows to avoid heat loss, and better insulation.
The developer Saris Regis has been developing sustainable multi-unit residences in the Bay Area for 30 years.