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City Council <br />Meeting Minutes <br />February 5, 2019 <br />Page 8 of 21 <br />senior housing, downsizing housing, affordable housing Not much support for large <br />standalone apartment complexes. <br />Mayor Pro Tem Lipton asked what is the role of housing in making this redevelopment <br />successful He asked how the number of units was determined for the overall success of <br />the redevelopment. Prosser stated there is no perfect answer how much is needed to <br />support the retail Dwelling units in the redevelopment drive the financial feasibility; adds <br />vitality to the area at times not currently being seen Residential creates demand at later <br />hours, throughout the day, on weekends, and diversifies the demand times. <br />Mayor Pro Tem Lipton asked given the fact Superior and Broomfield are adding housing <br />units, how does this small number make this work. Prosser stated it is the integration with <br />other uses that makes it financially feasibility; it is a desired. use that supports other uses <br />and vitality Finding ways to diversify the users in the area can help make the site more <br />attractive to retailers <br />Mr Guimond added the residential use is at a minimal increment for a developer to get it <br />to operate at a reasonable level <br />Guimond summarized the alternatives and next steps. He felt the big boxes would have <br />been filled by now if it were not for the GDP and the covenants. He summarized the <br />Alternative Analysis: <br />O Private covenants are likely a barrier in all scenarios and need to be addressed <br />• Re -tenanting may be achievable but does not support community desire <br />O Partial re -development is the most market supportable and a fiscal performer if the <br />GDP and covenants are addressed but does not fully support community desires <br />O Major redevelopment meets the community desires but would occur over time <br />Recommended Implementation Steps. <br />O Modify the GDP and development agreement to allow for greater variety of uses, <br />multifamily housing and greater density on site as incentive for retail development <br />O Provide an additional density allowance and greater allowance for non -sales tax <br />generating uses within redevelopment projects that provide community amenities <br />or enhance connectivity <br />• Modify focus on supporting and growing retail base to include focus on community - <br />oriented uses <br />O Work with Parcel 0 property owners to modify the CCRs to allow for an expanded <br />mix of retail and non -retail uses <br />O Invest in public improvements and amenities that allow Parcel 0 to succeed in an <br />evolving commercial market <br />Public Comments <br />