Planning Commission Agenda and Packet 2021 08 12

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7th Amendment to the Takoda General Development Plan for Planning Area 1, the Foundry Louisville, Colorado Amendment Narrative: May 11, 2021 Members of the City of Louisville Planning Commission, The proposed 7th Amendment Takoda General Development Plan for Planning Area 1 (the GDP) is intended to adjust the land use designations for the Foundry PUD to better reflect the developing character and market conditions in the City of Louisville an provide a way forward for the successful completion of this important component of the Steel Ranch neighborhood. The development team has spent a considerable amount of time with the local stakeholders (community and HOA's) to better understand their needs and wants for the Foundry property. The amended GDP includes the following the following changes that are supported by the local community: Allocation of Residential and Commercial Density: - Residential total dwelling units proposed to be increased from 32 to 59. The density is less than 10 dwelling units per acre and is consistent with the surrounding area and local planning efforts. - Maximum commercial floor area proposed to be reduced from 76,066 to 15,000 sq. ft. Although this is the north entrance to Louisville on Hwy 42, the site has several challenges for commercial use and is outside the commercial core of Louisville. Residential Character: - The project concept replaces 32 luxury style condominium units (previously approved in 4 buildings) with 59 attached single-family homes in a mix of duplex and townhome configurations. This allows for scale and character that more closely aligns with the adjacent neighborhood, while still providing for the critical mass of density needed to enhance the viability of the commercial component. - The dwelling units at the perimeter of the planning area are oriented towards the existing park(s) and adjacent neighborhoods to reinforce the street frontage and build on the established neighborhood fabric. Commercial Character: - While reduced in total area, the commercial component of the project is envisioned as a neighborhood center with a focus on walkable access from the adjacent homes. The reduced scale and floor area is appropriate given the abundance of commercial space available and under development in the surrounding area and helps to promote viability of potential neighborhood service uses that may occupy the spaces. - Commercial buildings are situated on the site to provide storefronts facing Hwy 42, the park and adjacent residential with opportunities for outdoor seating focused around a neighborhood center. This configuration also allows the commercial buildings to screen the park and residential areas of the project from Highway 42 impacts. - The smaller commercial spaces allow for flexibility and a scale of uses appropriate for the neighborhood focused planning objectives. 24