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Discussion <br />Avic Development is interested in developing the Subject Property as a market -rate multi -family <br />housing development. Avic Development is seeking feedback from the Council on their interest <br />in having a Developer submit a formal land use application for a multi -family housing <br />development at this site. <br />Avic Development has submitted a draft layout for the site which includes a three-story <br />apartment building comprised of 105 apartments, ranging from studio to three -bedrooms, and <br />115 enclosed street -level and 54 surface parking spaces, for a total of 169 spaces. <br />The drafted plan of 105 apartments on 2.48 acres results in a density of 42.33 units per acre, <br />which is greater than the City's maximum dwelling unit density established in the <br />Comprehensive Plan and the Zoning Code, excluding TCAAP. The drafted plan FAR is 1.31, <br />which exceeds the maximum FAR allowed in the Comprehensive Plan and Zoning Code, <br />excluding TCAAP. <br />Based on the drafted unit mix of studios to three -bedrooms, the required number of parking <br />spaces for the multi -family dwelling use would be 150 parking spaces and 105 enclosed spaces <br />would be required. The drafted parking plan would exceed the minimum requirement at 169 <br />parking spaces, with 115 spaces enclosed. <br />Plan Evaluation Summary <br />Avic Development has submitted a narrative and potential layout for the site. Based on an initial <br />review, staff believes the proposal would require the following land use requests: <br />• Comprehensive Plan Amendment <br />o To change or modify guiding to include multi -family residential housing <br />o To update potential density to allow for density up to 43 units per acre <br />o To update development intensity to allow for intensity greater than 0.8 FAR <br />• Zoning Code Amendments <br />o To add residential Multi -Family land use to B-3 Zoning District <br />o Conditional Use Permit for a Multiple Family Dwelling criteria <br />• Preliminary Plat and Final Plat for Subdivision <br />• Master and Final Planned Unit Development <br />• Site Plan Review <br />• Conditional Use Permit <br />Budget Impact <br />N/A <br />Attachments <br />A. Project Narrative <br />B. Draft Site Layout <br />C. Developer Brochure <br />Page 3 of 3 <br />