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Treasure Island Development Authority
Treasure Island Development Program
Item 5: Flex Zoning and Height Requirements
March 19, 2019
Treasure Island Development Authority
Design for Development (D4D) – T4.4 Maximum Height
Treasure Island Development Authority
Figure T4.q – Maximum Height Plan
Treasure Island Development Authority
T4.4.2 – Flex Height Zones
Treasure Island Development Authority
T4.5 Flex Zoning – Building Separation
Treasure Island Development Authority
Flex Zoning – Subphase 2
• D4D includes four parcels with Flex Height Zones, and TICD is currently designing buildings to take advantage of the allowable height.
Treasure Island Development Authority
Flex Zoning – Subphase 3
• Subphase 3 Application includes potential towers at the indicated sites
• This pattern precludes most opportunities for TIDA to exercise flex zoning on our parcels, but not economically or programmatically advantageous
Treasure Island Development Authority
Maximum Heights and Construction Types
Treasure Island Development Authority
Construction Cost /Sq Ft By Building Type
Weighted cost/sf based on MOHCD Pipeline Projects
Type I: • Unlimited levels, typically concrete and/or steel• Construction cost/square foot ~ $528
Type III and Type V hybrid over Type I: • Up to 5 levels wood over 1-2 levels concrete• Construction cost/square foot ~ $475
Type V over Type I: • Up to 4 levels wood over 1-2 levels concrete• Construction cost /square foot ~ $461
Treasure Island Development Authority
Authority Unit Parcel Analysis
CEQA cap – 8,000 unitsTotal affordable units = 2,173 (27.2%)
Of the 2,173 units: • 1,866 are “Authority Units” to be developed by
non-profit affordable housing developers on 20 pre-identified parcels
• Improved land is delivered free, clean and fully entitled
• 307 affordable units are inclusionary units within market rate buildings developed by TICD/affiliates
Treasure Island Development Authority
Authority Unit Parcel Analysis
Treasure Island Development Authority
Authority Unit Entitlement
• Based upon preliminary massing studies, TIDA has capacity to develop the 1,866 “Authority Units” utilizing fewer than our 20 allotted Authority Lots
• In these studies, most sites utilize Type V construction
• Additional units could be added by switching to Type III construction and be compatible within existing height limits adding approximately 180 units
Treasure Island Development Authority
Parcel C3.1 Case Study
Parcel Size: 49,497 sq feet/1.14 acres
Height Limit: 40’ along shared Right of Way125’ along Avenue C
Target Population: Catholic Charities and Pre-DDA Households
Treasure Island Development Authority
Parcel C3.1 Case Study
Parcel C3.1
Treasure Island Development Authority
Parcel C3.1 Case Study
Unit Count: 135 Units 149 Units
Building Type on Shared ROW:
4 levels of Type V on grade
4 levels of Type I townhomes
Building Type on Avenue C:
5 levels of Type III over 2 levels of
8 levels of Type I on Avenue C
concrete/Type 1
Treasure Island Development Authority
Parcel C3.1 Case Study
Unit Count 135 Units 149 Units
Hard Cost/Sq.Ft. $335 $349
Total Development Cost/Unit $750,929 $760,567
Total Development Cost $101,375,390 $113,324,430
Gap $44,168,835 $50,903,390
Gap/Unit $327,177 $341,633
Gap/unit for each of the 14 additional units $481,040
Treasure Island Development Authority
Parcel C3.1 Case Study
Reasons why per unit cost for additional units are so high:
• Units are larger than typical to reflect replacement unit obligations
• Type I construction is more costly and costs include added expense for geotech work to accommodate a heavier building
• 10% of units must be built without subsidy to accommodate pre-DDA over income households at initial occupancy
Treasure Island Development Authority
Parcel C3.1 Case Study
Conclusion:
The cost to increase from Type III to Type I is not worth the additional $6.7 million in gap based on existing affordable housing funding sources and program requirements
Would delay full funding and delivery of building.
Treasure Island Development Authority
Developer Parcels
• Design for Development and zoning provide TICD with sufficient development flexibility
• This flexibility allows the development of Treasure Island to adjust to the economics throughout the build-out
• Flexible Height areas on east side of island and parcels zoned to 125 ft. provide ample opportunity to build seven stories or more over most of the Island
• The 8,000 cap on total units limitsdevelopment capacity, not the 65 ft height limit in the Cityside neighborhood
Treasure Island Development Authority
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