5.4 acres, land banked
Quadrant 1 to Morgan Creek Ventures: 76 market-rate units + 18,600 sq ft of commercial space, half of which will be 75% of market-rate; 100 parking spots.
Carlisle: Does that come back to council for review?
It's a pilot program; city has not done affordable commercial rents anywhere else yet.
BHP will take possession of Quadrants 2, 3, and 4North and 4South to enable the construction of the utilities for the entire site, including right of way improvements and an underground parking garage that will span Quadrants 2 and 3.
Quadrants 2, 3, 4North and 4South to BHP: 120 units of affordable and market-rate housing, affordable commercial, .6-acre park
Quad 3: 62 market condos by private developer; 10 rowhouse condos; sold by Q3 2020
Quads 2-3 will have underground parking garage, built by BHP, 173 spaces; 94 for affordable housing, 79 for Quad 3 units
Quad 4S: 40 perm affordable units (30-60% AMI); half will be for adults with intellectual and developmental disabilities;
Construction beginning November (after getting tax credits worth $4.2M) and will last through 2021
At this time, to restate, 120 perm affordable rentals. Then some home ownership units are "anticipated" but numbers aren't known now.
Size was reduced, so HHS will compensate parks & rec $133K and pay for construction
Quad 3 owner will construct and maintain park
Transit-oriented development planning effort began in 2000
11.2 acres (then Pollard motors) purchased by city in 2004
City bought 8 acres for mixed-use development; RTD bought 3.2 for transit facility
City’s affordable housing investment to buy the site: $5,484,681
Firnhaber going over the quadrants now, the info for which you already have bc I just Tweeted it :)
Based on experience, 10-12 is "something that works well."
Firnhaber: Probably about half.
Reminding ppl that this almost fell through. dailycamera.com/2018/08/15/as-…
But other affordable rental landlords *do* sometimes raise them higher than that, which is a problem.