Planning Commission Agenda and Packet 2021 08 12

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As noted above, the current PUD has a requirement to build at least one of the commercial buildings concurrent or prior to construction of the residential development and letters of intent for leasing prior to issuing certificates of occupancy for the residential units. The previous owner intended to construct the 14,110 sf commercial structure to meet this requirement. This application includes the following commercial concurrency language on the GDP: No more than 60% of the residential building permits shall be issued without prior or concurrent issuance of building permit(s) for a minimum of 7,500 sf of commercial core and shell development. The remaining 40% of residential building permits shall be issued concurrent with or subsequent to a building permit(s) for the remaining 7,500 sf of commercial core and shell development. In no case shall a certificate of occupancy be issued for any residential dwelling units unless the associated commercial development has received a certificate of completion of similar approval for a core and shell condition as would be required by the city. ANALYSIS: The GDP Amendment is subject to Section 17.72 Planned Community Zone District (PCZD) of the Louisville Municipal Code. Any amendments to a PCZD are subject to the same process and requirements as the initial approval. The purpose of the planned community zone district in Section 17.72.010 includes the following statements that apply to this application: • The purpose of the PCZD is to encourage, preserve and improve the health, safety and general welfare of the people of the city by encouraging the use of contemporary land planning principles and coordinated community design. • The PCZD is created in recognition of the economic and cultural advantages that will accrue to the residents of an integrated, planned community development of sufficient size to provide related areas for various housing types, retail, service activities, recreation, schools and public facilities, and other uses of land. Section 17.72.030 includes the following applicability statement: • The PCZD may be applied only to such land as the city shall determine to be suitable for such a development. ComDrehensive Plan Policies This property is referenced in both the Comprehensive Plan and the South Boulder Road Small Area Plan. Within the Comprehensive Plan, the property is part of the Highway 42 Urban Corridor which contemplates office and neighborhood serving retail along with higher density housing in proximity to the highway with heights up to 3 stories, transitioning to lower density residential uses further away from the highway Foundry GDP Amendment Page 7 of 12 PC — August 12, 2021 16