Kilroy Realty Corp. and three community groups announced that they have reached a compromise that allows a scaled-down version of the One Paseo mixed-used development project to move forward. The new project will deliver amenities to the Carmel Valley neighborhood while reducing the traffic and visual impacts that caused concern within the community, Kilroy said.
Under the terms of the agreement, KRC will reduce the scope of the office and retail components of the project, while providing needed housing. The reductions in the project will decrease the number of average daily automobile trips by roughly half while retaining the mixed-use character of the project, according to Los Angeles-based Kilroy.
The settlement precludes additional litigation by all parties to the agreement, allowing permit processing on the revised One Paseo to move forward. KRC supported the recent rescission of the San Diego City Council’s approval of the prior version of One Paseo. The three community groups have pledged not to oppose a future version of One Paseo that adheres to specific parameters outlined in the settlement document.
“Our company has worked to deliver a project that meets many of the goals of the community, including more shops, restaurants, homes and public open space,” said John Kilroy, chairman, president and CEO of Kilroy Realty. “The new One Paseo plan allows us to provide additional amenities to Carmel Valley without the delay of a protracted legal battle or referendum.”