Buena Vista And Hwy 101 Hwy

The subject property is located near Highway 101, the main north0-south freeway from San Jose to Salinas, in the northerly areas of the Gilroy community in a corridor that is bounded on the west by Monterey Highway and on the east by the South Valley Freeway (Highway 101 ). The character of the neighborhood is agricultural in nature, however, these agricultural activities are considered to be interim uses. This 10± acres is within the Urban Service Boundary which is crucial for future development. The property is located 1 1/2 miles from the downtown core along Monterey Highway. Monterey Highway used to be the major north-south path between Los Angeles and San Francisco until the South Valley Freeway was completed in the early 1980s. The basic neighborhood is still considered to be rural in nature, even though it is close to town and development is encroaching upon the area. With the current Gilroy 2040 General Plan and future development of the City of Gilroy approaching there are a few key points that should be noted in regards to opportunity with the property. The Gilroy listing is currently 10 minutes away from where the proposed High Speed Railway Station will be located. “Preliminary plans for the California High Speed Rail project include a station in Gilroy, most likely to be located Downtown, adjacent to the existing train station”(As stated by the Gilroy 2040 General Plan Pg.80). With the listing currently being zoned for M1 (light industrial) I think that this could be a great investment for development with the general plans currently standing. Parking for the High Speed Railway Station and other commercial developments are what I would consider this space to be most easily utilized. Another key point to notice within the Gilroy 2040 General Plan and its positive relation to this property is the Employment Center. “The Employment Center designation is intended to support businesses and provide a broader range of employment types and intensities. This designation is suitable for office development, light industrial, research and development, medical, and high-tech uses. In addition, large-scale commercial can also locate in this designation if consistent with other commercial and industrial General Plan goals and policies. This designation is present at two locations in the City. The fist location is easterly of U.S. 101, southerly of the U.S. 101/Monterey Street interchange. The second is west of U.S. 101, northerly of the intersection of Monterey Road and Las Animas Avenue. Due to the high visibility of these areas at the northerly and southerly “gateways” to Gilroy, light and heavy industrial uses that cannot be properly screened are discouraged. Site design will provide urban-style landscaping, with storage areas and loading bays kept out of sight.” Maximum FAR: 3.0 (As stated by the Gilroy 2040 General Plan Pg.35) Lastly there is a proposed interchange on Highway 101 that will be developed right near the property as well. The interchange will be placed at the intersection of Buena Vista Ave and Highway 101. This interchange will make the property area more accessible. (Gilroy 2040 General Plan Pg.75) This provides potential investors with a multitude of development options. Providing opportunity and growth to the City of Gilroy as well. Gilroy 2040 General Plan Guide: General Mobility Pg.80 F.A.R(Floor Area Ratio) Pg. 26 Employment Center(EC) Pg.35