Mountain View San Antonio Precise Plan Development Feasibility and Community Benefits Study

City of Mountain View, CA

As part of a cross-disciplinary planning team, BAE provided real estate advisory services in support of the San Antonio Precise Plan which was adopted by the Mountain View City Council in December 2014.

Within two weeks of plan adoption, the developer of Santana Row, Federated Realty Trust, purchased the entirety of the San Antonio Shopping Center for redevelopment—a strong validation of BAE’s economic analysis.

Development Feasibility

BAE prepared a detailed pro forma analysis of multiple development scenarios on three opportunity sites within the plan area. Development feasibility was tested utilizing soft and hard construction data and market-based assumptions regarding rental rates, investor rates of return, and financing costs. A key economic issue was to determine the appropriate level of new development that would support replacing older one-story retail with high density, mixed use residential and commercial development.

Community Benefits Analysis

As part of this assignment, BAE prepared a community benefits study to determine a reasonable per square foot community benefits charge for market rate residential and new commercial uses in excess of the baseline entitlement in the plan area. BAE assisted Mountain View staff in preparing a community benefits ordinance that accompanied the precise plan adoption.