South Central Waterfront Regulating Plan Update — original pdf

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South Central Waterfront Regulating Plan South Central Waterfront Advisory Board April 18, 2022 Greg Dutton – Housing and Planning Content Regulating Plan How will it work? What will it do? What will it not do? Gives and gets Other Considerations Next Steps Overall Process Regulating Plan Creation Incorporation into LDC (Adoption) 3 Regulating Plan: how will it work? Developer Provides: • On-site affordable housing • Fee-in-lieu affordable housing • Other public realm benefits Developer Gets: • Increased entitlements 4 Regulating Plan: how will it work?  Opt-in, voluntary  Works in conjunction with existing WFO (does not replace it)  Mechanically similar to University Neighborhood Overlay (UNO)  Amendment to the land development code 5 Regulating Plan: what will it do?  Control physical buildout  Lay out public benefits and developer incentives  Include requirements for Affordable Housing provided by private developments that utilize bonus entitlements  Open space, streetscape, frontage, building height, land uses, parking 6 Regulating Plan: what will it not do?  Does not mandate participation  Does not speak to financing, funding sources, or public-private  Does not allow wiggle room or negotiating  Part of a larger toolbox - will not achieve the framework vision by partnerships itself 7 Regulating Plan: gives and gets*  Public goods:  Additional entitlements:  Affordable housing  Height subdistricts up to  On and off-site, 10%+ 400’ set aside  Improved streetscape  Enhanced open space  Improved pedestrian experience  Additional land uses  Additional floor area  No site area requirements  No minimum parking required *All properties in the district eligible to participate 8 Other Considerations  TIRZ in process  Project Connect:  Blue Line stop (above ground) + bridge  Orange Line stop (underground)  Changed market since 2016  Acuña ruling 9 Next Steps  Regulating plan:  Concepts: April/May 2022  Draft code: May/June 2022  Adoption: June/July/August 2022 20% Affordable Housing Gap Finance 1 0