Loading...
HomeMy WebLinkAbout013 - Appendix L - Affordable Housing PlanBlock 104 – 805 North Ida Affordable Housing Plan 10.9.2024 Project Description The Block 104 project is located on the eastern half of Block 104, directly west of the historic train statfon, and proposes a condominium development. This applicatfon is for the 5-story mixed use building. This project site is zoned B-2M (Community Business District – Mixed) and is located in the Northeast neighborhood. The larger Block 104 project is comprised of two formerly industrial lots and is bound by East Tamarack Street to the north, Front Street & North Ida Avenue to the east, and East Aspen Street (unbuilt) to the south. Separatfng these two lots is a 16’ publicly dedicated R.O.W. for an alley. This project is for the south building and is located on the 0.815-acre south parcel, and is located at 805 N. Ida Avenue. The North building will be permitted under a separate site plan applicatfon. This project proposes to demolish the existfng 9,000 square foot warehouse on the property and replace it with a 5-story, 100,000 gross square foot mixed-use development. This building will include 42 condominiums, ground floor retail, amenitfes, and an underground parking garage with 41 parking spaces. The residentfal component of this project will feature affordable housing, with 5% of the condominium units being for-sale at 120% AMI. The project will also provide open space and tenant amenitfes on site, both on ground level, in the building, and on balconies. The commercial space will front onto Ida Ave. & Aspen St., providing an actfve and engaging streetscape. The Applicant is partnering with HRDC in order to offer these units first to the local workforce, individuals and families that qualify within the 120% AMI price range. Response to Affordable Housing Plan Requirements (38.380.040) 1.Informatfon required. a. The total number of affordable homes, and market rate homes in the proposed development. Response: The project proposes constructing 42 total units. 5% of the total units (2 total) will be deed restricted for 30 years at 120% of AMI for Gallatin County. b. The table in 38.380.020 to be applied to the affordable housing plan. Response: This project will only meet the requirements for the Shallow Incentives outlined in table 38.380.020-2 (below). This project is a mixed-use project containing multi-household dwellings. Of the dwellings proposed 5% of them (2 units) will be provided at 120% of AMI for a period of 30 years. c. The number of bedrooms in each proposed low income affordable home, and market rate home in the development. Response: This project proposed proposes a mix of one-, two- and three-bedroom units. 5% of the units will be obtainable units, which breaks down 2, 1-Bedroom units. The remaining 40 units will be market rate. d. Whether each affordable home will be offered for rental or for sale. Response: These units will be offered for sale. e. The locatfon of affordable lots or units in the development. Response: The affordable units are located on the ground floor. f. The applicable AMI and maximum rental or sales price applicable to each low income affordable home. Response: The project will have 5% of the units at 120% AMI in Gallatin County, which for 2023 correlates to $360,100 for 1-bedroom units. These sale prices will be evaluated once the project is nearing completion for the most up to date estimate. g. A descriptfon of the requested incentfves from sectfon 38.380.030. Response: The Applicant is requesting to take advantage of the Shallow Incentives, specially the two additional stories allowed under section 38.380.030.C.3.C for the B-2M zoning district. This increases the maximum height and allows for more flexibility in the floor to floor heights of the building. This project is proposing to be significantly shorter than allowed with these incentives. h. Any other informatfon that is reasonably necessary to evaluate the compliance of the affordable housing plan with the requirements of this division, as determined by the review authority. Response: No additional information has been identified. i. If the development is to be constructed in phases: (1) The required informatfon may include specific commitments for the first phase of development and estfmates for later phases of development, provided the combinatfon of committed and estfmated low-income affordable homes in the development equals or exceeds the minimum required to qualify for the incentfves requested. Response: This project has only one building and will be built in a single phase, therefore this item is not applicable. The north building (not included in this application) will be permitted under a separate site plan review application. (2) As the number of low-income affordable homes for each later phase is finalized, the developer must submit an update to the affordable housing plan including or updatfng the informatfon required in this sectfon. The review authority shall review and approve, approve with conditfons, or deny the update using the criteria in this sectfon. Response: This project has only one building and will be built in a single phase, therefore this item is not applicable. The north building (not included in this application) will be permitted under a separate site plan review application. 2.Development standards for affordable homes. a. The number of affordable homes must meet or exceed the minimum standards needed to qualify for the applicable incentfve in sectfon 38.380.030. Response: The applicant is meeting the requirements to qualify for the applicable incentives. b. The mix of bedrooms per unit in affordable homes must be as similar as possible to the mix of bedrooms per unit of the market-rate homes in the development. Response: This project proposes a mix of dwelling units, the affordable units will be 1 bedroom units. c. Access to shared amenitfes and services by residents of the affordable homes must be the same as to those in market rate homes in the development. Response: All the shared amenities within and around the building will be open to all the residents of the project. d. If the development is to be constructed in phases, and the developer has requested affordable housing incentfves, at least 75 percent of the dwelling units in each phase must be affordable homes, unless the city has received adequate legal or financial assurance that any shortiall during earlier phases will be constructed before approval of the final phase of development. Response: This project will be built in a single phase and therefore this item is not applicable.