18 C20-2022-003 - South Central Waterfront Combining District & Density Bonus Program Presentation.pdf — original pdf

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South Central Waterfront Combining District & Density Bonus Program Planning Commission April 9, 2024 1 of 12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 2 of 12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 3 of 12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 4 4 4 of 12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 Proposed Rail Alignment Proposed Station 5 5 of 12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 and Community Impact Benefit F-i-L (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 6 6 of 12^ *For artistic rendering purposes only ^ Required dispersion of affordable units throughout the residential units 7 of 12Key* Recommended Changes  Added affordable creative space community benefit.  Require public access easements for publicly- accessible open space.  Affordable Housing Investment Area adjusted.  (Temporarily) Modified certain non-residential community benefits to 0 SF Bonus while city establishes compliance practices.  Flat Deck Parking requirement removed. Public Comment Stats Outreach to 80+ Stakeholder Groups 489 Survey Participants 3 Public Meetings during public comment period 7 presentations to Boards and Commissions to date 1 B&C presentations remaining * High level change log with additional explanations available for review 8 8 of 12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. mimic CBD)  Explore construction code adjustments for South Central Waterfront (to  Explore options to include flat deck parking as a requirement or bonus. 9 9 of 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 10 10 of 12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. 11 11 of 12Thank You 12 of 12