In agreeing to dedicate the mini-plaza for public uses, SLP also won a waiver from a requirement of new and expanding downtown businesses to pay into a special off-street parking fund that the city hopes to use someday for a parking garage.
The new building will be 34 feet high and feature decorative cornice treatments along all four sides of the building. The building's elevator shaft and equipment will be disguised with a clock tower rising to the top of the building and also hiding roof-top mechanical equipment.
Planners said the building design conforms to downtown guidelines and, in fact, will have an architectural style more in keeping with the historical appearance of the older building before it was renovated by Pastime. The building was constructed in 1910 to house Pleasanton's first movie theater, the Gem.
Pleasanton staff planner Jennifer Wallis told the commission that SLP's plans will establish pedestrian-oriented restaurants and retail and upper floors to better serve surrounding residents and businesses within the downtown area.
"The site and building have been designed with sensitivity to the historic downtown." Wallis stated in a report to the commission. "The proposed building and plaza are attractive (and) compatible with the surrounding development and buildings."
SLP said the building's storefronts will face Rose Avenue. No specific tenants have been named at this time.
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