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Strategy for a Sustainable Region Priority ... - One Bay Area
Strategy for a Sustainable Region Priority ... - One Bay Area
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Figure 49<br />
PDA Readiness Criteria Worksheet<br />
PDA name: Morgan Hill Downtown PDA Version: Baseline<br />
#<br />
Readiness<br />
Criteria Category<br />
# Sub-Criterion Name Present (2012)<br />
PDA Development Readiness Scoring<br />
2020 2030 2040 Notes<br />
D<br />
Market and<br />
Investment<br />
Attractiveness<br />
1<br />
History of real estate investment in<br />
PDA and surrounding city<br />
0.40 0.30 0.20<br />
While multifamily housing starts in Morgan Hill have been limited to<br />
mostly affordable projects, Downtown Morgan Hill shows future<br />
potential for multifamily uses especially if transit connections<br />
northward (i.e. Caltrain) can be improved<br />
2 Recent Local Development Activity<br />
(Pipeline)<br />
0.00 0.00 0.00<br />
Approximately 20 percent of the Plan Bay Area allocation is met with<br />
pending project applications in the Downtown Morgan Hill PDA<br />
A-147<br />
3 General Market Conditions<br />
4 Financial Feasibility Constraint<br />
0.30 0.20 0.10<br />
0.00 0.00 0.00<br />
The south Santa Clara County market area that Morgan Hill is a part<br />
has limited market conditions for multifamily housing; while these<br />
market conditions are expected to improve in future decades south<br />
Santa Clara County will remain dominated by traditional single family<br />
development<br />
Market prices (rents, condo sales prices) may make multifamily<br />
housing projects in the City infeasible in the near term; additionally<br />
current credit market conditions may impede certain projects in the<br />
short term<br />
5 Parcel size and configuration<br />
0.00 0.00 0.00<br />
Parcels included as opportunity sites in the CD&A capacity analysis<br />
are typically larger parcels currently vacant or in underutilized<br />
commercial or industrial uses that will be supplanted over time by<br />
residential and mixed use projects<br />
6 Existence of major investment<br />
disincentives<br />
There are no significant investment disincentives in the Morgan Hill<br />
Downtown PDA<br />
0.00 0.00 0.00<br />
Economic & Planning Systems, Inc. 3/26/2013 Page 3 of 4 P:\121000\121113MTC\Readiness_Assessment Process\PDA Readiness Assessment\WK_Readiness Assessments\All_WK_Sample032513