Laserfiche WebLink
3. Mixed Use <br /> DESCRIPTION <br /> • The original vision for The COR was a mixed-use development. The City's definition of mixed <br /> use has evolved from vertically mixed-use to horizontally mixed-use (mix of uses within a <br /> certain geographic area). Below are general approaches: <br /> o (A)Vertical Mixed-use is focused on The COR-1 Zoning District. This zoning district has <br /> a vision and goal a mix of uses within each individual development project (for <br /> example, commercial/office below and apartments above within the same building), <br /> but stops short of making this a hard requirement. Some desire the city take a strong <br /> stance on vertical mixed-used policy for The COR (make it required with The COR-1 <br /> Zoning District). <br /> o (C) Horizontal Mixed Use. The COR, as a whole, should have a mix of uses located within <br /> close proximity to each other (i.e. we have a district for apartments, retail, business park, <br /> etc.). This could be within a block or within the development as a whole.The COR-1 Zoning <br /> District should be flexible, and allow for various uses (as the market demands). <br /> ,10 . � <br /> Market Panel/Developer/Real Estate Professionals <br /> o Generally, new vertically mixed-use development is very challenging to attract in today's <br /> economy, specifically in suburban areas. This is due to: <br /> o Developers' lack of knowledge/comfort/specialization in vertical mixed use projects. <br /> Outside of major cities/downtown areas,vertical mixed use if very uncommon. <br /> o Finical institutions unwillingness to fund projects. Many developers have told the <br /> City—even if we wanted to complete a vertically mixed use project,we couldn't—our <br /> bank won't fund it. We would need to cover that portion of our project with equity. <br /> Page 8 of 15 <br />