Even with the removal of the fifth-floor residences, the 101 Project remains a leader in transit-oriented-development. The new office building greatly reduces vehicular traffic. The Metropolitan Transportation Commission reports that offices near a train station can reduce car trips by up to 42 percent. A downtown office reduces far more car trips than does downtown housing. Few residents ride the train. Instead, because of the high cost of Palo Alto housing, residents choose to live in Palo Alto so they can be near their work in Palo Alto. On the other hand, many employees commute by train to Palo Alto for legal, financial and technology jobs. As the highest train-boarding and departing location between San Jose and San Francisco, Palo Alto is a leader for transit-oriented-development.
The 101 Project offers the greatest variety and value of public benefits ever provided in the downtown. For example:
• Housing benefits include more than $2 million for affordable housing, with a $1.2 million contribution and an $826,000 impact fee.
• Parking benefits include by far the largest in-lieu parking fee, $1.5 million, ever paid in the city. None of this fee would be required if the council allowed the 1:1 FAR parking exemption provided under any standard zoning, without discretionary approval.
In addition, the project will:
• Provide attendant parking for 40 spaces (only 10 spaces are credited).
•Contribute $250,000 to the Neighborhood Preservation and Permit Parking Program for Professorville and Downtown North.
• Provide public access for 22 private parking spaces.
•Contribute $60,000 to downtown parking programs.
•Begin a transportation-demand management program to reduce parking by 20 percent.
•Provide urban design benefits valued at over $500,000.
•To support energy and environmental leadership, provide $250,000 for electrical vehicle charging stations, transit passes for tenants, Zip Cars and exceed building standards for improved energy and water conservation. •
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