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Home My WebLink About7th & Aspen Mixed-Use Affordable Housing Action Plan Boundary 7th & Aspen Mixed Use SPEKT Affordable Housing Action Plan ARCHITECTURE & DESIGN APRIL 2024 J �r PROTECT SUMMARY The 7th &Aspen Master Plan proposes new mixed-use development of commercial & residential uses on three parcels located at the Southwest corner of 7th Avenue and Aspen Street in the Midtown District, and includes 96 units of affordable housing. Phase 1 &2 occupy the southern two lots of the development and each contains a 4-story apartment building which provides a total of 96 units, 100%of which are affordable housing units. 46 units will be offered at or below 70%AMI thresholds,with the remaining 50 offered at 80%AMI thresholds.All units will meet the city's affordable eligibility guidelines.All units offered will be contractually obligated, by way of a written plan,to assure ongoing affordability to the affordable housing agency for a period of not less than 30 years. PLJrtw+t � t W8ETWW -A T3L IMP F� _ .//Z1 L M r/O■f ��1�� PROJECT i r'i'�.. i 3 LDCJQION � . o...�..� .o.i CO I" , all,' i IT 1r1 �.— *` — oft . *4 is A P L K I . Boundary 7TH&ASPEN Phase 1 &2 Site Plan Application 1 AFFORDABLE HOUSING SUMMARY Both Phase 1 and 2 will provide a total of 96 units for rent, 100% of which will be affordable dwellings meeting the criteria of BMC 38.380.020. Phase 1 will provide 29 units with rental rates at 60%of AMI thresholds and 17 units at 50%of AMI thresholds. Phase 2 provides 50 affordable dwelling units for rent at 80%of AMI thresholds. Phase 3 is anticipated to contain approximately 75 market-rate units:therefore, this development seeks to take advantage of the deep incentives set forth in BMC 38.380.030.C.3 as affordable units will make up approximately 56%of total dwellings in the entire development. TYPE OF HOUSING (OWNERSHIP)-PERCENTAGE OF AMI UNIT OTY. %OF HOMES DURATION Multi-Household Dwellings (Rental)-50%of AMI (PHASE 1) 17 10% 30 YEARS Multi-Household Dwellings (Rental)-60%of AMI (PHASE 1) 29 17% 30 YEARS Multi-Household Dwellings (Rental)-80%of AMI (PHASE 2) 50 29% 30 YEARS AFFORDABLE DWELLINGS TOTAL 56% Multi-Household Market Rate Dwellings (PHASE 3) 75 (EST.) 44% N/A TOTAL 171 (EST.) 100% Specifically,this application seeks to utilize the following incentives: - Additional Stories of height(38.380.020-1.3.c) (Phase 1 &2, TBD- Phase 3) - Exemption from the following (38.380.020-1.3.f.(2-4): -(2) Special residential block frontage standards along internal pathways(38.510.030.J) -(3) Maximum fagade width standards (38.530.040.E) -(4) Roofline Modulation ((38.530.040.F) A P L K I . Boundary 7TH&ASPEN Phase 1 &2 Site Plan Application 2 AFFORDABLE UNIT MATRIX UNITS AT 50% AMI % OF HOMES UNIT QTY. UNIT SIZE (SF) RENT (MONTHLY) PHASE Studio 0% 0 518 - - One Bedroom 5.85% 10 528 $ 986 Phase 1 Two Bedroom 2.3% 4 768 $ 1,183 Phase 1 Three Bedroom 1.75% 3 1,104 $ 1,368 Phase 1 Total 9.9% 17 Phase 1 UNITS AT 60% AMI Studio 2.3% 4 518 $ 1,105 Phase 1 1 Bedroom 8.2% 14 528 $ 1,184 Phase 1 2 Bedroom 4.1% 7 768 $ 1,420 Phase 1 3 Bedroom 2.3% 4 1,104 $ 1,641 Phase 1 Total 16.9% 29 UNITS AT 80% AMI Studio 0% 0 518 - - One Bedroom 21% 36 528 $ 1,684 Phase 2 Two Bedroom 6.43% 11 768 $1,893 Phase 2 Three Bedroom 1.75% 3 1,104 $2,103 Phase 2 Total 29.18% 50 TOTAL 55.98% 96 A P L K I . Boundary 7TH&ASPEN Phase 1 &2 Site Plan Application 3 FLOOR PLANS (PHASE 1) All affordable units are located in phase 1 &2 buildings. The Phase 1 building contains 46 total dwelling units comprised of:4 studio units; 24 one-bedroom units; 11 two-bedroom units; and 7 three-bedroom units.All 46 units are affordable ------ ------------ ------ ------ T ------------ --------- o ----------STORAGE--I -.TTT. ........ ................ L I_1 NIT 108 UNIT 112 UNIT 104 UNIT 108 REC ROOM MECH.I S ORAGEESTROOM Fr MAIL El F J.C. CORD LAUNDRY -110 LT ENTRY LOUNGE ENTRYIR2/ STAIR 1 UNIT 111 UNIT 103 UNIT 105 UNIT 107 UNIT1W FL.. EM FIRE RISMER --- --- RCO L ------- ------- ----- LL rIT L IUUNIT 204 U" U"ITS 7 71 ----- ----------- f --------- CORRIDOR 2 LAUNDRY 2 STAIR 2 F_= STAIRJ UNIT�03 UNIT205 UNIT209 Unfli Phase I Floor Plans.-Above-Level I Plan;Below-Levels 2-4 Plan AS P E KT Boundary 7TH&ASPEN Phase 1 &2 Site Plan Application 4 FLOOR PLANS (PHASE 2) All affordable units are located in phase 1 &2 buildings. The Phase 2 building contains 50 total dwelling units comprised of: 36 one-bedroom units; 11 two-bedroom units; and 3 three-bedroom units.All 50 units are affordable. ir --- IILI ®0® L 0 o - - ® d 0 0" 'o y,_yy___y__111 Irr, 'TTTTTTTTTTTTTTTT - - - - - - - - - - - - - r—� l o ED o -FI ]OUD Phase 2 Floor Plans:Above-Level 1 Plan;Below-Levels 2-4 Plan A P L K I . Boundary 7TH&ASPEN Phase 1 &2 Site Plan Application 5 UNIT PLANS STUDIO TYPICAL UNIT PLAN STORAGE TI 510 SF ° III BATH LJJKITCHEN/ DINING CLOSET LIVING --- BEDROOM - ONE BEDROOM TYPICAL UNIT PLAN aEDRooM 530 SF NG L-H 4 KITCHEN DINING TWO BEDROOM TYPICAL UNIT PLAN 6EJROOM LIVINGI 775 SF eEDCOOm CLOSET.... CI OSFT 0 KITCHEN/ y BATH DINING n WH ----- _----- _ `i O O� THREE BEDROOM - TYPICAL UNIT PLAN BEDROOM BEDROOM LIVING 2 � 1,010 SF eaDRooN, a LD wET cLOSET CLOSET �ST07- 1 - BATH LS1 L I\ I . Boundary 7TH&ASPEN Phase 1 &2 Site Plan Application 6 PHASING The Master Site Plan development consists of three phases each containing a single building on each respective parcel. Phase 1 of development consists of a single four-story apartment building containing 46 affordable rental dwellings on the center parcel (lot 4A); as well as site improvements including the shared surface parking, refuse enclosure, Phase 1 plaza area, and East open space area. 46 DWELLING UNITS REFUSE ENCLOSURE 23 SURFACE PARKING SPACES 5 OPEN SPACE&SITE IMPROVEMENTS Phase >scope limit diagram Phase 2 consists of a single four-story apartment building containing 50 affordable rental dwellings on the South parcel (lot 6A).; as well as site improvements including the Phase 2 plaza area and South open space area. 50 DWELLING UNITS OPEN SPACE&SITE IMPROVEMENTS 5Q \ Phase 2 scope limit diagram A P L K I . Boundary 7TH&ASPEN Phase 1 &2 Site Plan Application 7 PHASING Phase 3 is a future phase and it's build-out is TBD at this time, however it is anticipated that phase 3 will consist of a single seven-story mixed-use building containing above and below ground structured parking, commercial space, residential dwelling units, and site improvements located on the Northern parcel (lots 1-3).The applicant is currently exploring the feasibility of an interim condition to provide surface parking on the North parcel (lots 1-3). Phase 3 interim scope diagram \ c� PHASE 3 TBD TBD 7-STORY MIXED-USE APPROX.75 DWELLING UNITS APPROX.15,000 SF OF COMMERCIAL SPACE 140A50 PARKING GARAGE SPACES / OPEN SPACE&SITE IMPROVEMENTS � II IIIIII' D \\ I o Phase 3 scope diagram A P L K I . Boundary 7TH&ASPEN Phase 1 &2 Site Plan Application 8