HomeMy WebLinkAbout1993-04-16; City Council; 12166; Aviara Affordable Housing Development AgreementcI‘- ! OF CARLSBAD - AGEN? BILL
OF AFFoRDABLx HOUSINQ ON LAND KNOWN
AS !CHE LITTLE B-81 PROPERTY, LOCATED OH WEST SIDE OF EL CAMINO REAL, NORTH
OF ALGA ROAD. APH: 215-020-15
It is recommended that City Council indicate its intent to assist in the development of an affordable housing project on the property known as the Little Bressi site by directing staff to take necessary action in cooperation with Hillman Properties and its development team to structure a specific proposal for City Council's consideration.
ITEM EXPLANATION
In connection with the Aviara Master Plan Agreement for Inclusionary Housing (City Council Resolution No. 92-276, adopted September 1, 1992). and the Aviara Affordable Housing Development Agreement, Hillman Properties (Hillman) has been working with staff toward developing an affordable housing project consistent with the Aviara obligation and responsive to City housing goals.
Hillman has identified the Little Bressi Site as the proposed location for construction of affordable units required under the Aviara agreements with the City. Aviara entered into an option agreement to purchase the Little Bressi Site dated June 1, 1992. Hillman Properties and City staff have worked cooperatively to form the project conceptual proposal which is under consideration.
In conjunction with this Agenda Bill, staff and the Hillman development team will present the project concept according to the Presentation Agenda outlined in Exhibit 1. Key elements to be presented include:
0 Bite: The Little Bressi Site consists of approximately twenty-three (23) acres located on the west side of El Camino Real, north of Alga Road in the Southwest Quadrant. The site is currently designated Residential Medium (RM).
0 Proiect DescriDtion: The concept contemplates approximately 380 units of multifamily rental housing with a mix of one, two and three bedroom units. This is approximately 16.5 dwellling units per acre, a significant density increase for the site. The density, which is critical to affordability of the project, can be accommodated by excess units available in the Southwest Quadrant.
0 Affordability: A community of mixed-income households is proposed, with annual incomes ranging from approximately 50% to 80% of the area median income.
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These incomes currently would range from $20,700 to $33,100 for four-person households. It is intended that rents will be affordable and restricted for a minimum of 30 years. Ultimate financing sources and the final provisions of the City's Inclusionary Housing Ordinance, if adopted, may determine different affordability levels. It is a goal to have all units qualify toward the City's Housing Element goal.
0 Develoment Team: Hillman Properties leads a development team which includes Patrick Development (San Diego) and Picerne Associates (San Diego). All three companies have established national and statewide reputations for their development work, which has included affordable housing product. A non-profit partner will also join the development team. BRIDGE Housing Corporation (San Francisco), one of the nation's most respected, innovative and productive non- profit developers is expressing interest in the project.
Staff and the development team will utilize an oral presentation and visuals to elaborate on the project concept, emphasizing the goal of achieving affordability in a quality community.
It is staff's recommendation that Council support and commit staff to the development of a specific project proposal consistent with the concept presented. In addition to being subject to the City's normal review process, the project will return to Council in the form of an Affordable Housing Agreement between the developers and the City. Should City Council support this recommendation, it will take hard work and cooperative effort to meet the challenges presented by such an affordable housing effort. The site, the development team and the project concept are an exceptionally strong start.
This action commits only staff time and no direct City financial participation at this time. A goal of this effort will be to structure a specific plan for achieving the project, including any City participation. It is likely that this project will require the typical ingredients of affordable projects, including multiple layers of subsidy and incentives. These specifics will be brought forward for City Council consideration at a later date.
EXHIBITS:
1. Presentation Agenda
EXHIBIT 1
CARLSBADAPARTMENTS (Little Bressi Site)
1. Presentation Overview EVAN BECKER
0 Background of proposed project in relation to city affordable housinq goals and inclusionarv housinq requirements.
0 Seeking Council input and direction prior to proceeding with formal steps in structuring and submitting.
0 Introduction of Larry Clemens, Vice President/ General Manager Hillman Properties.
2. Presentation of Project Concept
0 Purpose in proposing project
0 Development Team
0 Project Description:
- The site - Density - Site Plan - Parking - Unit Mix - Affordability - Project amenities (rent/income levels)
0 Key Project Elements:
- Project quality. - Serving the affordable housing need of nearby employers. - Provision of affordable housing "credits" to other developers. - Project timing.
0 Comments from BRIDGE Housing Corporation
- Background of BRIDGE - Similar project experience - What it will take
3. Brief Staff Reactions
l Planning perspective
l Affordable housing perspective 0 City role in project
4. Couricil discussion and direction to staff.
LARRY CLEMENS, Vice .President/ General Manager Hillman Properties
KEN PICERNE, Picerne Associates
DON TERNER, President, BRIDGE Rousing Corporation
MICHAEL BOLZMILLER EVAN BECKER