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2 <br /> Approved & Under Construction <br /> Project name Approved units Permitted Completed Remaining <br /> Bellevue apartments 114 114 0 114 <br /> Cates Creek Apartments 270 270 207 63 <br /> Corbin Creek Woods 18 18 18 0 <br /> Corbinton Commons(SF only) 70 10 1 69 <br /> Elfin Pond 104 44 34 70 <br /> Fiori Hill 46 0 0 46 <br /> Forest Ridge 233 69 44 189 <br /> Lennar townhomes(Waterstone) 200 0 0 200 <br /> Waterstone Estates 136 119 99 37 <br /> Waterstone Terrace 114 84 62 52 <br /> Total 1305 728 465 840 <br /> Pipeline <br /> Project name Approved units Type <br /> 515 N 24 condos <br /> Collins Ridge 1038 master plan approval only <br /> Corbinton Commons 141 senior apartments <br /> Approved,not under construction 1203 <br /> Under Review <br /> Project name Requested units Type <br /> Collins Ridge-Phase 1 326 apartment <br /> 152 townhome <br /> 194 detached <br /> Under review 672 <br /> The Boards can discuss issues related to this item as necessary, and staff will be <br /> available at the meeting. <br /> No Attachments <br /> b) Affordable housing in conjunction with approved or pending residential <br /> growth** <br /> Waterstone deeded 2.25 acres in the townhome neighborhood to The Community <br /> Home Trust for development as affordable townhomes. The Trust has since <br /> deeded the property to Habitat for Humanity. The town expects to receive a <br /> Special Use Permit modification for its April Public hearing to review the <br /> development plans for Habitat to construct 24 senior targeted affordable units on <br /> this parcel. Waterstone is also committed to provide $5,000 per affordable unit to <br /> the property owner at the time of building permit issuance for each affordable unit. <br /> Forest Ridge is making a $1,000 per dwelling unit payment in lieu to the town <br /> before each permit is issued in this 240-unit development. The town has <br /> committed $5,000 to the Community Empowerment Fund to help with deposit <br /> assistance for income eligible residents seeking rental housing in Hillsborough. <br /> The town has not developed a plan for the remaining funding, although Habitat <br /> has requested some financial support for the Waterstone townhomes. <br /> Collins Ridge has committed to the gift of 3 acres to CASA for that organization to <br /> develop 60-88 affordable rental units. The property must be transferred no later <br /> than 30 days after receiving the first building permit. <br />