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Page 1 of 8 <br />Item #5 <br /> CITY COUNCIL AGENDA REPORT <br /> <br />July 15, 2025 <br />Community and Economic Development <br /> <br />TITLE: ADOPT A RESOLUTION APPROVING THE SECOND AMENDMENT TO THE <br />AFFORDABLE HOUSING AGREEMENT BETWEEN THE CITY OF PLEASANTON <br />AND AVALON PLEASANTON, L.P., FOR THE AVALON PLEASANTON <br />RESIDENTIAL DEVELOPMENT, AS FILED UNDER CASE NO. PUD-85-08-1D-6M <br /> <br />SUMMARY <br />In 2024, a modification to the approved 305-unit Avalon Pleasanton Residential Development <br />was approved, increasing the unit count by 31 units, for a total of 336 units. Consistent with the <br />City's Inclusionary Zoning Ordinance (IZO) and in compliance with the previously approved <br />Affordable Housing Agreement (AHA), the developer, Avalon Pleasanton L.P. (Avalon), was <br />required to proportionately increase the number of affordable units from 46 to 51 units. A First <br />Amendment to the AHA was executed administratively to memorialize the revised affordable <br />unit count. More recently, Avalon has requested a further amendment to the AHA, to allow 45 <br />of the 51 affordable units required to be built on-site at the Avalon Pleasanton project to be <br />instead provided by deed-restricting some existing market-rate residential units at the nearby <br />Eaves Pleasanton complex, which is under the same ownership. Doing so would have several <br />advantages, including securing earlier provision of the units, deepening the affordability of the <br />units, and providing a larger proportion of one-bedroom units instead of studio units, compared <br />to the units proposed on-site at Avalon Pleasanton. This Second Amendment to the AHA <br />requires City Council approval, due to the scope and nature of the proposal, which would <br />constitute an alternative method of compliance as defined by the IZO. <br /> <br />RECOMMENDATION <br />Adopt a resolution approving the Second Amendment to the Affordable Housing Agreement <br />between the City of Pleasanton and Avalon Pleasanton, L.P., for the Avalon Pleasanton <br />residential development, as filed under Case No. PUD-85-08-1D-6M. <br /> <br />BACKGROUND <br />Site and Area Description <br />The Avalon Pleasanton residential project is located on an approximately 8.4-acre site on the <br />north side of Owens Drive between Rosewood Drive and Tassajara Creek, within Hacienda. <br />The site was originally part of the 60.9-acre Redwood Commons office complex (formerly <br />California Center), but has since been subdivided from the larger property. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Page 75 of 694