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HRA Regular Session Meeting Date: 09/09/2014 By: Tim Gladhill, Community Development 5. 1. Information Title: Review Concept Plan for Parkview East, a Future High Density Residential Development to be Located at the Intersection of Rhinestone Street and East Ramsey Parkway; Case of PSD, LLC Purpose/Background: PSD, LLC has entered into a purchase agreement with the City's Housing and Redevelopment Authority for a nine (9) acre parcel to construct a phased apartment development. Prior to closing on the purchase, PSD has requested feedback from the Planning Commission as it relates to compliance with Zoning Code. Staff is also forwarding this as a discussion item for the Housing and Redevelopment Authority (HRA) as property owner. The site is located in the COR-1 Sub -District and is subject to the Development Plan and Development Framework for The COR. PSD, LLC desires feedback on the following: 1. Use of pitched roof versus flat roof 2. Parking requirements and capacity 3. Relation to the Development Plan and Design Framework (Zoning Code) Notification: Notification is not required. Observations/Alternatives: As it relates to the nine (9) acre parcel, the proposed development would provide 180 units over two (2) phases for a net density of 20 units per acre. From the perspective of the minimum density for this Sub -District, this density is acceptable. Please note that this parcel is subject to the Design Plan and Design Framework for The COR. The Development Plan lays out a preferred layout and development pattern as was used to illustrate a development pattern that would sustain transit for the Northstar Commuter Rail - Ramsey Station. The Development Plan forecasted 435 units within these nine (9) acres and planned for a future, shared parking structure to address the parking needs of not only this parcel, but the overall block as well. The proposed development would likely eliminate the ability for the future structured parking facility to be constructed as planned, which would have an effect on the development pattern for the remainder of the block. In the event a parking structure is constructed, Staff has verified with the HRA attorney that by proceeding forward with approval of this development and purchase agreement, the City does not obligate itself financially to a parking structure. In other words, the City has the flexibility to approve a development pattern that does not include a structured parking facility with appropriate amendments to the Development Plan. The City is able to adjust the Development Plan to respond to the market. It is possible that the changes to the Development Plan to match the proposed development and still meet the goals of the overall development. It is also possible to amend the Development Plan and make adjustments elsewhere within the development to account for the changes. The Development Plan was not intended to lock in a specific site plan approval, but to illustrate a means in which the City could achieve its land use goals for the development. Staff will have a more detailed analysis on this factor as the project and design progresses.