Item #2 Density Bonus Program for South Central Waterfront — original pdf

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South Central Waterfront Combining District & Density Bonus Program SCWAB February 22, 2024 History Combining District Density Bonus Program - Bonus Program Opt-in Requirements - Fees-in-Lieu - Additional On-Site Community Benefits Timeline & Ways to Provide Feedback South Central Waterfront Vision Framework Plan Adopted June 6, 2016 5 City Council Resolution 20220915-090 ▪ Directed Planning Staff to create regulations supporting implementation of the 2016 South Central Waterfront Vision Framework Plan. ▪ Program to be re-evaluated/updated at least every five years. ▪ Increased development square footage only available through the Density Bonus Program. ▪ Maximize community benefits: affordable housing, open space, and ▪ Maximize infrastructure investments: new streets, parks, bikeways, public art, etc. and trails. 6 City Council Resolution 20220915-090 ▪ Create a Density Bonus Program “akin” to Downtown. ▪ Support Project Connect transit investment. ▪ Allow entitlements significant enough to achieve required infrastructure and community benefits. ▪ Ensure entitlements meet market demand to account for increased costs and avoid continual requests to amend the code. ▪ Create enhanced environmental standards and protections. 7 City Council Resolution 20220915-090 Create a connected, pedestrian-oriented, mixed-use district where “thousands more Austinites can live, work, and play.” 8 Updates / Changes ▪ First re-evaluation will occur sooner than 5 years to account for updated details from Project Connect and citywide density bonus analysis. ▪ The SCW regulations will be implemented by: – Council adoption 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 properties in the district (summer 2024). – Subsequent rezonings and code amendments will be required to add additional properties at a later date. 9 Combining District Components ▪ General Provisions (Policies, procedures, and who can participate) ▪ Land Use Standards (Permitted and conditional land uses) ▪ Development Standards (What will be built and where) ▪ Design Standards (How it will look) ▪ Definitions 10 Density Bonus Components ▪ Procedures/Requirements ▪ “Gate Keeper” Requirements – Affordable Housing – Environmental Protection – Improved Streetscape and Built Environment ▪ In-Lieu Fees and Dedications ▪ Onsite Community Benefits Eligible for Bonus Area 11 District Boundary New parcels added that are affected by Project Connect lightrail alignment. Project Connect Rail Alignment 12 Streets and Light Rail 13 Subdistricts Council approval is required to exceed FAR maximums 14 Critical Water Quality Zones 15 Land Uses ▪ Permitted land uses support: – Transit – Pedestrian use – Mixed-use – Creative Enterprise – Recreation and Entertainment Activity 16 *For artistic rendering purposes only 17 Parks & Open Space ▪ Required publicly accessible Open Space (5% of site) ▪ Parkland Dedication may be credited towards Parks Fee-in-Lieu amount ▪ Buildout of parks amenities is a Community Benefit available for bonus area ▪ Both parkland dedication and buildout must meet PARD criteria and be accepted by the PARD Director 18 Pedestrian Experience ▪ Internal walkways require at least 10ft of sidewalk and 5ft of planting/amenity zone. ▪ Sidewalks along roadways will have at least a 10ft sidewalk with an 8ft planting/amenity zone. 19 Density Distribution Areas (DDAs) ▪ Floor-to-Area Ratio (FAR) is calculated separately for each DDA and FAR maximums apply separately. ▪ DDAs shall be no greater than 90,000 s.f. ▪ Internal walkways are required along DDA boundaries for internal pedestrian circulation. Not representative of actual site plan 20 SCW Density Bonus Program On-site Requirements: ▪ Enhanced Environmental Standards Standards ▪ Streetscape and Built Environment ▪ 5% of housing on-site must be affordable under 3:1 FAR. May be: – Affordable rental units at 60% MFI, – Affordable ownership units (condos) at 80% MFI, or – A fee-in-lieu for ownership units. At full buildout, it is estimated: The SCW Bonus Program could produce 481* On-site Affordable Units compared to 527 Affordable Units anticipated in the 2016 Vision Plan. 21 SCW Density Bonus Program Beyond the on-site gatekeeper requirements: ▪ 70% of desired bonus area may be achieved through fees- in-lieu and dedications. – The fees-in-lieu will be divided among Affordable Housing, Parks, and Infrastructure. – Affordable Housing fee will be spent within a boundary – Parks fee will be spent within a distance from the property from which it is obtained – Infrastructure fee will be spent within SCW District 22 SCW Density Bonus Program ▪ 30% of desired bonus area may be achieved through additional on-site community benefits. – Public Open Space (plazas, etc.) – Childcare and Adult Care – Live Music Venues – Grocery Stores – Sustainable Building Certifications: AEGB / LEED Services – Cultural Uses (art galleries or museums) 23 SCW Density Bonus Program ▪ Additional on-site community benefits: – Enhanced Accessibility Standards (beyond ADA) – Park & Playground Amenities – Transit-Supportive Infrastructure (Transit Infrastructure, Bus Stations, Bikeshares, etc.) 24 Bonus Program Structure First Then (For Additional FAR) Gate Keeper Requirements Onsite Affordable Housing (Fee for Non-Residential) Enhanced Environmental Protections Streetscape & Built Environment (To Reach Up to FAR Subdistrict Maximums) 70% In-Lieu Fees & Dedications Affordable Housing Parks Infrastructure 30% On-Site Community Benefits Green Building Open Space Child / Adult Care Universal Design Cultural Uses Music Venues Grocery Store Park Buildout Transit- Supportive Infrastructure 25 Density Bonus Calculator ▪ This Excel-based tool calculates: – The total fee-in-lieu amount associated with the desired bonus area; – An estimated number of onsite affordable units (at 60% MFI); and – The value of onsite community benefits to be provided to achieve the desired bonus. 26 Gross Site Area (SF)4,277,000674Units of On-site Affordable Housing (60% MFI)Base Zoning Floor Area Ratio (FAR)2.0$28,869,750Level 1 Non-Residential Bonus Fee Required$436,254,000Total Level 2 Community Benefits Value Required$0Land Dedication CreditFloor Area Ratio (FAR) including Bonus20.0See note 1Percent of Building SF Residential75%See note 2$436,254,000Net Level 2 Community Benefits ObligationNet-to-Gross SF Residential Efficiency Ratio80%See note 3$305,377,800Total Level 2 Obligation to be paid as Density Bonus FeeAverage Net Residential Unit Size800$130,876,200Required Value of Level 2 In-Kind Community BenefitsLand DedicationsLand SFDedicated Parkland0Project Connect ROW0Results - Community Benefit Requirements for Desired DensityProject InputsSite and Current Entitlement CharacteristicsDesired Building Characteristics (Total with Bonus)Gross Site Area (SF)4,277,000674Units of On-site Affordable Housing (60% MFI)Base Zoning Floor Area Ratio (FAR)2.0$28,869,750Level 1 Non-Residential Bonus Fee Required$436,254,000Total Level 2 Community Benefits Value Required$0Land Dedication CreditFloor Area Ratio (FAR) including Bonus20.0See note 1Percent of Building SF Residential75%See note 2$436,254,000Net Level 2 Community Benefits ObligationNet-to-Gross SF Residential Efficiency Ratio80%See note 3$305,377,800Total Level 2 Obligation to be paid as Density Bonus FeeAverage Net Residential Unit Size800$130,876,200Required Value of Level 2 In-Kind Community BenefitsLand DedicationsLand SFDedicated Parkland0Project Connect ROW0Results - Community Benefit Requirements for Desired DensityProject InputsSite and Current Entitlement CharacteristicsDesired Building Characteristics (Total with Bonus)Timeline b e F r a M r p A y a M n u J Public Comment Period Feb. 20 – Mar. 20 Engagement 2/28 TBD 3/20 Boards & Commissions Feb. - April Feedback Integration (Assemble feedback) PC & Council Review/ Adoption Today April - May 27 Tell Us What You Think! ▪ Survey Stations (in person) ▪ SpeakUp Page for South Central Waterfront (SpeakUpAustin.org/SouthCentralWaterfront) contains: – – – Link to South Central Waterfront website with draft Combining District & Density Bonus Program Engagement activities Link to Survey to provide feedback ▪ Questions? Reference South Central Waterfront – – Email: LDCupdates@austintexas.gov Phone: 512-974-7220 *To be published simultaneous to the release of the draft Combining District & Density Bonus Program. 28 Thank You