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2.2The Master Plan projects new housing units to be developed and/or renovated in a number of phases. In addition, the Plan includes the opportunity to provide new and or renovated neighborhood retail, new housing and/or office space in the areas along Rice Street. This Plan identifies development areas in phases based upon anticipated short and long range development timeframes and through a market based approach to redevelopment. Currently there are 101 apartment units, 38,545 sq.ft. of retail space and 44,676 sq.ft. office space in the study area. This plan could add 30 to 50 housing units in the first phase. 2.3The use of the site at 185 North McCarrons Blvd (Guptil property) for multi-family housing along with more efficient and effective use of the Armory and Church sites through increased partnerships are considered to be the highest priority to be implemented in the next 2-5 years as Phase I. As an alternative to medium to high density housing, it is possible that the Armory and/or the Church could propose a use on the Guptil site that would include related church, church housing, a specialized school, or other service needs. Staff has prepared several options for site development as part of Phase I. South side of site: 36 -45 units of senior apartments, cooperatives or condo or 12 three story townhomes. Staff is not recommending that the Guptil property be sold for the development of a few large single family units. This would not be the most effective use of the site. The higher dense option provides more return for the property owner and could serve to provide an alternate housing option for seniors currently living in single family homes that could become available for new families. North side of site: A maximum of 6 two level for sale townhomes or 4 small lot single family homes. Each option provides new ownership opportunities for empty nesters, young professional and young families. Phase II 2.4The proposal, peripheral to the Guptil site, is a 2-10 year plan and includes the improvement of the area multi family complexes, ongoing single family residential improvements and the more complete redevelopment of the Armory site. This WILL require a concerted effort and investment by the HRA. Phase III proposal 2.5The, the Rice Street commercial areas are a 10 to 20 year plan. Because the project is market based with development by the private sector, the phases need scheduling flexibility within those specified time frames. The Plan may be modified to be more marketable and financially feasible while taking into consideration the planning principles and goals of the Plan, the surrounding neighborhood needs, the environment and the community as a whole. This WILL require both city and HRA effort and investment. 2.6Each Phase is explained in more detail in the master plan document. In addition, background information, summary of meetings and suggested land use issues are also summarized. McCarrons Draft Master Plan 03.16.04 Page 2 of 3