Item2_SCWAdoptionPresentation_COJC — original pdf

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South Central Waterfront Combining District & Density Bonus Program COJC April 1, 2024 South Central Waterfront Vision Framework Plan Adopted June 6, 2016 City Council Resolution 20220915-090 Initiated the creation of an “Optional Regulating Plan” later changed to a Combining District and Density Bonus Program. 2 Approach Since Council Resolution  The SCW regulations will be implemented by: – Council adoption of an optional set of regulations and bonus program through the creation of a Combining District and a Density Bonus Program (spring 2024). – City-initiated rezoning of non PDA, PUD, and Planned Development Agreement properties in the district (summer 2024).  First reevaluation within 1-2 years. 3 District Boundary Expansion 4 Combining District Density Bonus General Provisions (Policies, procedures, and who can participate) Land Use Standards (Permitted and conditional land uses) Development Standards (What can be built and where) Design Standards (How it will look) Definitions Procedures/Requirements “Gate Keeper” Requirements – – – Affordable Housing Environmental Protection Improved Streetscape and Built Environment In-Lieu Fees and Dedications On-Site Community Benefits Eligible for Bonus Area 5 5 Subdistricts and FAR Council approval is required to exceed FAR maximums and heights Density Distribution Areas (DDAs) • FAR maximums apply to each DDA separately. • No larger than 90,000 sq. ft. • Internal circulation routes required along DDA divisions. Project Connect Rail Alignment 6 Bonus Program Structure (For Additional FAR Beyond Base) Gate Keeper Requirements Onsite Affordable Housing (Fee for Non-Residential) Enhanced Environmental Protections Streetscape & Built Environment First Then (To Reach Up to FAR / Height Subdistrict Maximums) 70% In-Lieu Fees & Dedications Affordable Housing (extra on-site affordable units credited; Affordable Housing Investment Area) Parks (dedications credited; boundary as defined by typical Parks fees) Infrastructure (supports SCW directly) 30% On-Site Community Benefits *Affordable Creative Space Open Space & Park Buildout Child / Adult Care Cultural Uses Transit-Supportive Infrastructure Grocery Store Music Venues Public Art 7 Affordable Housing 5% of housing on-site up to 3:1 FAR must be affordable. May be: At full buildout, it is estimated: The SCW Bonus Program could produce – Affordable rental units at 60% MFI, – Or if Condos: 481 On-site Affordable Units compared to – Affordable ownership units (condos) at 80% MFI, or – A fee-in-lieu for ownership units. 527 Affordable Units anticipated in the 2016 Vision Plan. 8 ^ *For artistic rendering purposes only ^ Required dispersion of affordable units throughout the residential units Key* Recommended Changes  Expanded boundaries  Height limits added to Subdistricts 1-4.  Properties proximal to rail station adjusted to higher FAR.  PARD can require up to 25% property dedication.  Added affordable creative space community benefit.  Bird-friendly design criteria required in bonus for light pollution reduction and collision deterrence Public Comment Stats Outreach to 80+ Stakeholder Groups 489 Survey Participants 3 Public Meetings during public comment period 5 presentations to Boards and Commissions to date 4 B&C presentations remaining (3 “Actions” will be requested) * High level change log with additional explanations available for review 10 Key Recommended Changes (continued)  Added mobility options to internal circulation routes.  Shade provisions increased for open space.  Require public access easements for publicly-accessible open space.  Affordable Housing Investment Area adjusted: expanded boundary, limits investment within reach of public transit.  (Temporarily) Modified certain non- residential community benefits to 0 SF Bonus while city establishes compliance practices. 11 Future Considerations (within 6 mo. - 2 years)  For certain non-residential community benefits, re-examine density bonus once compliance options have been determined by staff.  Explore all financial tools to achieve the vision.  Re-evaluate fees once citywide density bonus analysis is complete.  Explore the addition of Transfer of Development Rights.  Explore opportunities for below market rent with adjustments over time for Council priorities.  Explore construction code adjustments for South Central Waterfront (to mimic CBD) 12 Timeline b e F r a M r p A y a M n u J Public Comment Period Feb. 20 – Mar. 20 E n g a g e m e n t 2/28 3/18 3/20 4/17 4/20 Boards & Commissions Feb. - April Feedback Integration (Analyze feedback) Mar - April PC & Council Review / Adoption April - May Today 13 Staff Recommendation As written, staff believe this code provides the regulatory tools necessary to be one financial component to dynamically transform the South Central Waterfront from an underutilized neighborhood into a connected, pedestrian-oriented, mixed use district. Through an extensive effort between various city departments, property owners, and the general public, staff believes that the draft code fulfills the intent of the 2016 Vision Plan and 2022 Council resolution to the greatest extent possible. Staff recommends a recommendation of approval for the code amendment as proposed and for council to initiate zoning and rezoning for all non-PUD, PDA, and Planned Development Agreement properties. 14 Thank You