Agenda - 10-15-2003-3 - Laserfiche WebLink

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~. ~~ ~ ~ ~ ~ C el match V~Ilage = ZAA Statement of Justc; f scat' ion May 20, 2003 Page 4 of S In accordance with the goals and objectives of the Town's Comprehensive Plan, the Chapel Watch Village proposal will include an affordable housing component, ~ As a condition of the rezoning request and the accompanying Special Use' Permit application, the developer is proposing -that 15% of the dwelling units (42 apartments) would be priced so as to be affordable to families earning 80% of the Median Income for the Raleigh Durham-Chapel Hill Metropolitan Statistical Area (MSA). The developer is also proposing that these 42 affordable housing units will be mixed throughout the community in the same proportions of unit mix as the general pattein of unit mix. for.'the entire development (19 one-bedroom apartments, '14 twbbedroom apartments, and 9three-bedroom apartments). . Theme: Idenafy areas where there are creative development opportunities The Comprehensive Plan acknowledges that, as a ,maturing community, Chapel Hill has relatively little vacant land remaining that is suitable for non residential development. The Land Use Plan does indicate however, that one such area is located immediately north of this site, on the northern side of Eubanks Road, between Interstate-40 and Hillhouse Road. Accordingly, the Land .Use Plan .denotes that this azea north of Eubanks Road is appropriate for amixed-use development, with an office emphasis. As a site adjoining this potential future mixed use. development, .the developer believes that this subject site offers .a: creative ~opportwiity to provide supporting rental housing for.such a land use, in the form of:a multi- family,.development format. 'The developer also believes that such a residential community would .be. a logical complement to the substantial amount of single-family residential construction (for ownership) that has occurred in this area over the last decade. In addition, the subject site is uniquely located adjacent to an underutilized Town Park and Ride lot, on a bus route, and adjacent to the rail line that runs southward through the Horace Williams tract to downtown Carrboro and Chapel Hill. It has been public)y discusser) that this rail line corridor has the potential to be used for mass transit purposes in the future. When these transportation amenities are combined with the flat topography located on the developable ~ portions of this site, a significant creative opportunity seems to emerge for a multi-family development -that' would bewell-located to: . • Utilize mass transit opportunities, • Provide support for future mixed use development in this area, and • Provide potential housing opportunities (with both affordable units and market-rate units) for .employees of the future Town of Chapel Hill Public Works facility that is proposed north of Eubanks Road.