Draft Minutes - 11-13-12 Special Work Session

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ARDEN HILLS SPECIAL CITY COUNCIL WORK SESSION—NOVEMBER 13, 2012 2 and in exchange for the assistance, Arden Village must have four units dedicated to households whose income is less than 80% of the area median. City Planner Beekman stated that since the project is changing from affordable to market rate housing, SCI contracted with Maxfield Research to conduct a market study related to apartment demand. She noted that the study found a greater demand for single and double units rather than family-sized three bedroom units. As a result of the study, SCI is converting many of the proposed three bedroom units to one and two bedroom units, which results in a total of 60 units. City Planner Beekman stated that the increase from 55 to 60 units increases the density of the project from 20 units per acre to 21.7 units per acre. She noted that in addition to the changes in the unit mix, SCI is proposing higher quality interior finishes, which include granite counter tops, nine-foot ceilings, a larger community room, a fitness center, and additional outdoor recreation areas and amenities. City Planner Beekman noted that staff considers the proposed changes as minor. If the Council felt the requested changes were deemed significant, it would mean that the plans would have to go back to the Planning Commission for recommendation, and a public hearing would be required. She noted that it would be approximately a 60 — 90 day process if it was to go back to the Planning Commission. Councilmember Holden questioned if the plans included a sidewalk. City Planner Beekman stated that a sidewalk that runs the length of the property, along County Road F, is included in the plan. Mayor Grant asked for clarification between affordable housing and market rate housing. Jamie Thelen, Arden Village, LLC; stated that in the affordable housing plan, all the units had income restrictions and rents were restricted to certain dollar amounts. With the market rate housing plan, only four of the units are governed by the HRA to be deemed affordable housing. In the scenario of affordable housing, a three bedroom would rent for approximately $1,023 per month. In the market rate plan, a three bedroom will bring between $1500 and $1600 per month in rent. Councilmember Holden asked what the maximum number of people living in the building will be. City Planner Beekman stated that the original project that was approved contained 124 bedrooms, and would more than likely be rented by families who would have children doubling up in bedrooms. The proposed changes contains fewer bedrooms, but it is difficult to speculate who will rent. Councilmember Holden inquired if Maxfield's study recommended any efficiency units. Mr. Thelen stated that the study found a greater demand for one and two bedroom units; therefore, no efficiency units are proposed in the new plan.