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Hesperian Boulevard, where small parcel sizes and existing development constrain the potential <br />for new development. <br /> Proposed Use and Development Intensity Allowed Under the Specific Plan. For the sites where <br />development was possible, the team calculated the theoretical build-out maximum under the <br />new specific plan, based on hypothetical massing studies created by the team. This resulted in a <br />potential number of residential units, office square footage, and retail square footage that <br />would occur under 100 percent build-out of the plan to its maximum on all potential sites. <br />Since the Specific Plan allows a flexible mix of residential or office, one scenario that could occur <br />under the Specific Plan includes future development devoted entirely to new residential (Scenario <br />1). Another possible scenario that could occur includes future development devoted to a mix of <br />residential and office (Scenario 2).1 The potential growth identified on each possible development <br />site in each Scenario was adjusted by a factor ranging from 0.3 (development unlikely) to 0.7 <br />(development likely), based on the likelihood of that use type being developed, and the likelihood <br />that the given parcel could redevelop. This resulted in a sum total of potential net new residential <br />units, office square footage, and retail square footage for both Scenario 1 (housing-only) and <br />Scenario 2 (housing-office mix). Scenario 1 showed more residential units than Scenario 2; <br />conversely, Scenario 2 showed more office than Scenario 1, which showed no office. The amount of <br />potential retail was equivalent between Scenario 1 and 2. Both scenarios assumed an approximately <br />10-15 percent overall loss of retail square footage due to changing retail formats over the time <br />horizon of the Specific Plan, but the continued strong retail presence that presently characterizes <br />the existing area. <br />The EIR growth projections are intended to encompass a conservative maximum development <br />envelope of both scenarios, enabling either scenario to unfold within the parameters studied for the <br />EIR. To do this, the project team used the number of potential new dwelling units in the housing- <br />focused Scenario 1 (2,540 dwelling units) and the potential number of potential new office square <br />footage from the office-residential-focused Scenario 2 (300,000 square feet of office). The EIR <br />growth projections also used the retail assumptions from Scenarios 1 and 2, which were equivalent. <br />Under CEQA Guidelines Section 15206(b)(2)(A), the proposed Specific Plan is classified as a project of <br />“regional significance” because it includes more than 500 housing units. <br />2.4 Project Objectives <br />The Bay Fair TOD Specific Plan is intended to achieve the following project objectives and desired <br />outcomes as it is implemented over time: <br /> More Parks and Open Space. Increase the amount of parks, green space, plazas, and other 1. <br />public space that encourages pedestrian activity, recreation, and access to nature. <br /> More Walkable Environment. Improve the pedestrian experience, public space, aesthetics, and 2. <br />design quality throughout the Specific Plan Area to attract visitors, serve residents and promote <br />walking. <br /> Better Mobility and Connectivity. Improve pedestrian, bicycle, transit, and vehicle connections 3. <br />in the Specific Plan Area through the creation of an interconnected street grid, with a focus on <br />1 The analysis did not include an office-only scenario because the market study indicated that residential has more market support in the <br />Specific Plan Area. <br />114