HomeMy WebLinkAbout24_0321 Alder Ridge Sage Peak - AHP
AFFORDABLE HOUSING PLAN APPLICATION 8
AFFORDABLE HOUSING PLAN APPLICATION
Property Information
Property Address: __
Property Owner:
Legal Description:
Property Geo-Code:
County Tax ID #:
Applicant Information
Property Owner
Tenant
Developer
Other
Applicant’s primary contact:
Name:
Business Name:
Business Phone: _______________________________Cell Phone:
Email:
Project Representative (if not applicant):
Name:
Business Name:
Business Phone: _______________________________Cell Phone:
Email:
Property Owner (if not applicant):
Name:
Business Name:
Business Phone: _______________________________Cell Phone:
Email:
AFFORDABLE HOUSING PLAN APPLICATION 9
PROJECT DETAIL
Project
Development Name: ____________________________________________________________________
Project Description: _____________________________________________________________________
Property Owner
Name: _______________________________________________________________________________
Address: ______________________________________________________________________________
Phone: _______________________________________________________________________________
Email: ________________________________________________________________________________
Applicant
Name: _______________________________________________________________________________
Address: ______________________________________________________________________________
Phone: _______________________________________________________________________________
Email: ________________________________________________________________________________
Property
Site Address: __________________________________________________________________________
Legal Description: ______________________________________________________________________
Current Zoning: ________________________________________________________________________
Building Square Footage: ________________________________________________________________
Number of Stories: _____________________________________________________________________
Lot Size: ______________________________________________________________________________
Affordable Housing
Number of Residential Units Total: ________________________________________________________
Number of Affordable Sale Units: _________________________________________________________
Affordability Targets (120% AMI Minimum): __________________________________________
Number of Affordable Rental Units: _______________________________________________________
Affordability Targets (80% AMI Minimum): ___________________________________________
Please attach a list of all other property owners, business partners, developers and/or investors
associated with this project, with the above information provided for each.
AFFORDABLE HOUSING PLAN APPLICATION 10
SIGNATURES
This application must be signed by both the applicant(s) and the property owner(s) (if different).
I (we), by signature below, certify that the information supplied in this application is, to the best of my
(our) knowledge, true, accurate, and complete, and is provided for the purpose of obtaining approval to
participate in the Midtown Urban Renewal District TIF assistance program. I (we) understand that failure
to comply with the terms of the TIF assistance program may result in revocation of an award.
I (we) understand the work to be undertaken must be in accordance with all applicable requirements of
the Bozeman Municipal Code and any special conditions established by the approval authority and must
receive all required approvals prior to commencing the work. I (we) understand if approved for TIF
assistance, the work to be performed must also be in accordance with TIF assistance program procedures
and the general design guidelines for the District, as well as the specific plans approved for the project. I
(we) acknowledge that the City has an Impact Fee Program and impact fees may be assessed for my
project. Further, I (we) agree to grant City personnel and other review agency representative’s access to
the subject site during the course of the review process (Section 38.34.050, BMC).
Applicant (s) (Print Name)
Signature of Applicant Date
Property Owner(s) (Print Name)
Signature of Property Owner Date
DocuSign Envelope ID: 1A27C6EF-7FF4-42CF-B3CD-600DAC222A91
3/19/2024
DocuSign Envelope ID: 593D506A-A81E-4FC5-88FE-343E5A999402
3/19/2024
AFFORDABLE HOUSING PLAN APPLICATION 11
ADDITIONAL INFORMATION
1.Project Narrative
Provide an overview of the project in narrative format. The narrative must include a description of the
following aspects of the project:
Type of Residential Units
o Total number and individual square footage of residential units; type of residential units
(e.g. for-sale, rental, condominium, single-family, etc.); number and type of parking
spaces provided; and construction phasing.
Project Timeline
o Include anticipated dates for site acquisition, project start and completion, as well as
other project milestones. Multi-phase projects must include details for each phase. The
timeline should also identify any critical or time-sensitive dates as well as any time
constraints facing the applicant.
Construction Information
o Size of any existing structure to be demolished or rehabbed; size of any new construction;
types of construction materials (structural and finish); delineation of square foot
allocation by use.
Affordable Housing Information
o The City of Bozeman has established goals to increase the supply of affordable housing in
the city. Provide a detailed narrative response to each criterion and include supporting
documentation to include a description of the affordable housing elements of the project.
2.Site Maps and Building Plans
The Applicant must submit a completed Conceptual Review Application and City responses to the
Board. The Conceptual Review application must include, at minimum:
Photographs of project site and/or building
For requests of smaller lot sizes per the AHO incentives, please provide preliminary platting
information showing the proposed affordable lots that will be deed restricted
Map showing the location of the site and its immediate surroundings
Proposed development plans including site plans, floor plans indicating square footage and
layout, and building elevations
Description of parking accommodations for residential units
Estimated date of occupancy
Anticipated off-site infrastructure improvements, including anticipated costs
Copy of Concept Review comments
AFFORDABLE HOUSING PLAN APPLICATION 12
CRITERIA FOR AFFORDABLE HOUSING PLAN
To qualify for low income affordable home incentives, the developer must submit to the City an affordable
housing plan that includes the information and complies with the standards in this section. The review
authority may approve the affordable housing plan if the review authority finds that it includes the
information required for the city to confirm compliance with the standards and criteria in the AHO.
Please attach documentation describing each numbered criterion #1-14.
Affordable Home Incentive Requirements
Information Required
1.The total number of affordable homes, and market rate homes in the proposed development
☐2.The table in 38.380.020 to be applied to the affordable housing plan
☐3.The number of bedrooms in each proposed low income affordable home, and market rate
home in the development
☐4.Whether each affordable home will be offered for rental or for sale
☐5.The location of affordable lots or units in the development
☐6.The applicable AMI and maximum rental or sales price applicable to each home
☐7.A description of the requested incentives from section 38.380.040
☐8.Any other information that is reasonably necessary to evaluate the compliance of the
affordable housing plan with the requirements of the AHO
Phased Construction (If Applicable)
☐
9.The required information may include specific commitments for the first phase of
development and estimates for later phases of development, provided the combination of
committed and estimated low income affordable homes in the development equals or
exceeds the minimum required to qualify for the incentives requested
☐
10.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 updating the information
required in this section. The review authority shall review and approve, approve with
conditions, or deny the update using the criteria in this section
Development Standards for Affordable Homes
☐11.The number of affordable homes must meet or exceed the minimum standards needed to
qualify for the applicable incentive in section 38.380.030
☐12.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
☐13.Access to shared amenities and services by residents of the affordable homes must be the
same as to those in market rate homes in the development
☐
14.If the development is to be constructed in phases, and the developer has requested affordable
housing incentives, 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 shortfall
during earlier phases will be constructed before approval of the final phase of development
Alder Ridge Apartments and Sage Peak Apartments
Affordable Housing Plan
Project Narrative
The Alder Ridge Apartments and Sage Peak Apartments project is proposed to be located at 17th
& Graf St. in Bozeman, MT. The portion of the site to be called Alder Ridge Apartments will
have 240 affordable family housing units consisting of 96 one-bedroom units at 625 square feet,
80 two-bedroom units at 850 square feet, 48 three-bedroom units at 1,096 square feet, and 16
four-bedroom units at 1,300 square feet. Property amenities include a clubhouse/community
room with a workout facility, playground, picnic area, and an on-site manager. Unit amenities
include blinds, central heating and air conditioning, walk-in closets and in-unit washer/dryer
connections. Kitchen appliances include a garbage disposal, oven/stove, refrigerator, and
dishwasher. 527 parking spaces split between 53 bicycle stalls, 10 ADA stalls, and 418 standard
stalls will be provided.
The portion of the site to be called Sage Peak Apartments will have 101 affordable senior (55+)
housing units consisting of 59 one-bedroom units at 644 square feet and 42 two-bedroom units at
776 square feet. All units will be located in one building. Senior amenities include an internal
clubhouse/community room with a workout facility, playground, picnic area and an on-site
manager. Unit amenities include blinds, central heating and air conditioning, walk-in closets and
in-unit washer/dryer connections. Kitchen appliances include a garbage disposal, oven/stove,
refrigerator, and dishwasher.
Alder Ridge Apartments and Sage Peak Apartments is currently in Site Plan Approval with the
goal of submitting for full building permits on 6/21/24. Permit delivery is estimated to occur on
12/13/24 with construction starting in Q1/Q2 of 2025. Construction is estimated to take 615
calendar days with buildings being delivered in the Summer of 2025.
DevCo has submitted an LOI for the issuance of tax-exempt bonds and 4% LIHTCs through the
Montana Board of Housing and will extend the affordability commitments.
Affordable Housing Plan
1. The proposed development shall have 341 affordable homes income-averaged at 60%
AMI. All units will be below 80% of AMI.
2. See elections in chart below.
3. There will be 96 one-bedroom units, 80 two-bedroom units, 48 three-bedroom units and
16 4 four-bedroom units, all designated as family affordable housing.
a. There will be 59 one-bedroom units and 42 two-bedroom units located in one
building designed for 55+/Senior occupancy.
4. All homes at the project will be rental housing.
5. All units will be affordable. See Site Plan for building locations.
6. All units at Alder Ridge will be income-averaged at 60% AMI and will not exceed 80%
AMI. Sage Peak will have 7 units at 40% AMI, 19 units at 50% AMI, 42 units at 60%
AMI, and 33 units at 70% AMI.
7. Requested Incentives.
a. The first requested incentive will be a reduction in the parking ratio to one stall
per dwelling unit per 3d. of Deep Incentives.
b. The second requested incentive will be a 20% open space reduction allowed by
the City of Bozeman Ordinance No. 2111.
8. The units shall remain affordable for a minimum period of 30 years. A restrictive
covenant will be recorded that demonstrates this commitment to affordability.
9. Does not apply. The project does not include phased construction.
10. Does not apply. The project does not include phased construction.
11. Project will be entirely comprised of affordable units.
12. Does not apply. All units will be affordable at the project.
13. Does not apply. The project does not include phased construction.
14. Does not apply. The project does not include phased construction.
DevCo Mission Statement
DevCo Preservation uses its extensive experience in the management, construction and financing
of affordable housing to revitalize existing properties and build long lasting communities. By
planning extensive renovations and making long-term affordability commitments DevCo
Preservation provides quality, affordable housing in growing markets where it is needed most.
Site Plan
Elevations – Alder Ridge
Elevations – Sage Peak
`
Elevations – Clubhouse
Materials – Alder Ridge
Materials – Sage Peak
Materials – Clubhouse