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-a <br />1 <br />rn <br />0 <br />L <br />0 <br />0 <br />a <br />a <br />ra <br />E <br />L <br />a <br />0 <br />V <br />0 <br />■ <br />■ <br />■ <br />■ <br />Site Challenges: <br />The site does not have infrastructure and is zoned for agriculture. <br />It would need to be annexed into the City and rezoned for <br />multi -family housing or a mixed use to develop housing units. <br />Site Opportunities: <br />This site has the potential for the development of multi -fami- <br />ly housing units, tiny houses, or multiple uses. The land will <br />need to be rezoned and infrastructure will need to be brought <br />to the site for whatever type of development occurs, but it could <br />accommodate a mix of short term shelter and long term per- <br />manent supportive housing opportunities for individuals from <br />the City and throughout Boulder County. <br />Site Transit and Service Access: <br />There are bus lines .2 miles from the site that travel into town. <br />Other Considerations: <br />The site is large enough that it could accommodate permanent <br />housing for homeless individuals or families. It could be pos- <br />sible, depending upon political and neighborhood support, to <br />develop somewhat of a campus, with a "tiny home" village for <br />individuals, or a multi -family housing development like Lee <br />Hill in Boulder or Red Tail Ponds in Fort Collins, with small <br />one bedroom units for individuals or larger units for families, <br />with room for service provision on site. <br />CSI has prepared a cost estimates for a development scenarios <br />with both tiny homes and apartments. These cost estimates <br />and development scenarios are very general in nature, and do <br />not represent a development plan, but do point out the potential <br />for development at this site by local agencies. <br />Development Potential Proforma: <br />The following basic development proforma uses costs per square <br />foot from the recently financed Kestrel development being <br />constructed by the Boulder County Housing Authority. The <br />cost per square foot includes construction, on and off site in- <br />frastructure, permits, and soft costs such as financing. The total <br />cost of permits and infrastructure requirements are unknown <br />at this time and would depend upon the type of housing con- <br />structed at the Longmont site. <br />The cost for "tiny homes" is also based upon the Kestrel square <br />foot costs, which may be high for this type of construction, and <br />are therefore a conservative estimate of the cost to place tiny <br />homes on the site, which would include water, sewer, and elec- <br />tricity to each unit. We assume each unit has a bathroom with <br />a shower, heat, electricity and a small porch, as well as a micro- <br />wave and refrigerator. Please see the Quixote Village Cottag- <br />es case study for more information about this type of project. <br />Total Cost to Construct 36 Rental Units and 24 Tiny Homes <br />= $10,000,000 <br />Potential Sources of Funding: <br />This project example can use a mix of financing and equity <br />resources, such as Low Income Housing Tax Credits (9% or <br />4%), Private Activity or Housing Authority Bonds, HOME <br />funding and City of Longmont federal funding, Boulder County <br />Worthy Cause funding, and funding through the Metro Denver <br />Homeless Initiative for acquisition or for rental subsidies. Other <br />potential sources are the Colorado Division of Housing Na- <br />tional Housing Trust, Housing Development Grant funds, and <br />Section 811 project based rental assistance vouchers if some <br />tenants had identified disabilities. <br />Boulder County Permanent Supportive Housing Study <br />Potential Development Site Analysis <br />Single Family Home Example <br />Site Size <br />.27 acres <br />Site Zoning <br />RL -2 Residential <br />Proposed Height Restriction <br />NA <br />Proposed Density <br />Existing unit and density stay the same <br />Number and Types of Units <br />One large unit — five bedroom, 31 bath — 3,457 s.f. <br />H + T Index/Walkability Score/Transit Score <br />Walk Score 45 (car dependent), Transit Score (some transit) <br />Bike Score 90 (very bikable); <br />Transportation Cost H + T Index = 17% , City 19% <br />Nearby Amenities <br />Bike path, City park, Hospital, grocery store, restaurants <br />Current Ownership <br />Private Individuals <br />Site Assessor's Value/Sales Price <br />Listed for $635,000 <br />Site Current Conditions: <br />This example home is existing and within the City of Boulder city limits, located in a residential neighborhood. The house has <br />fairly good access to public transportation, shopping, and amenities. The example home would need some accessibility and fire <br />system modifications to ensure that residents were safe and could live in the building with some disabilities. <br />-a <br />rn <br />0 <br />w <br />.> <br />L <br />0 <br />0. <br />a <br />w <br />w <br />ra <br />E <br />L <br />w <br />a <br />0 <br />U <br />L <br />0 <br />■ <br />■ <br />■ <br />■ <br />29 <br />34 35 <br />