Despite market slowdowns, Belmont is trying to juggle a number of development initiatives to meet its economic goals and housing mandates.
A tough lending market has made some commercial development stall. Three of the city’s five major biotechnology projects have been withdrawn or indefinitely paused as of April.
But Deputy Community Development Director Laura Russell said the city is still moving the needle on its housing element, a state-mandated blueprint on how each city will achieve its housing needs.
Some of those include updates to its inclusionary zoning housing requirements, or the percentage of affordable units within each project, as well as offering stronger support for those interested in building accessory dwelling units, Russell said. To meet its state-mandated housing goals, or Regional Housing Needs Allocation, Belmont must approve 1,735 housing units between 2023-31. So far, it has approved 549 units from major development projects in the current RHNA cycle. The California Department of Housing and Community Development imposed more ambitious housing mandates than previous cycles, which will likely come with more oversight.
“We expect HCD to monitor this more closely than they have in past years,” Russell said. “There is a chance they’ll start to see more of our work product and provide comments on it as we move forward.”
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Over the last several months, the city has also conducted a couple community meetings for residents living in and near the Harbor Industrial Area, which is a 62-acre unincorporated area situated west of Highway 101 and east of El Camino Real and mostly contains industrial businesses, as well as the Belmont Trailer Park. The city has a long-term plan to annex and redevelop the area, and while it intends to retain the mobile home park as part of its redevelopment plan, there are still many unknowns over which businesses will occupy the space, although it will likely house more life science firms and retail stores. According to a recent staff report, about 3.9 million square feet of new commercial development is proposed, on top of the current 1.3 million square feet of non-residential use. About 325,000 square feet, or 303 units, of new residential use is proposed.
“This is really intended to be an employment center with a couple of key housing resources, and that is the mobile home park remaining at its current location and also anticipating multi-family housing around Old County Road and Elmer and the upper corner of that area,” Russell said.
She added that the HIA plan will likely be adopted at the beginning of next year and that redevelopment “would occur over a 20- to even 30-year timeframe.”
The City Council is tentatively scheduled to discuss the HIA plan Sept. 23.
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