Planning Commission Agenda and Packet 2023 09 14

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Planning Commission Staff Report September 14, 2023 The applicant has provided market analysis from Hoffman Strategy Group (see attached Application Materials). The analysis notes that the site is not ideal for commercial and retail development due to limited vehicular access to the site. The analysis looks at retail, office, and residential demand and absorption in the market shed and concludes that retail and office development would be challenging while there is strong market demand for new residential development. Also provided in the application materials is a traffic anlaysis that compares potential traffic generation between development scenarious that could occure under the exisgin MU-R zonign vs. the proposed CC -MU zoning. The develoment scenario under the current CC -MU assumes as 25,000 sq. ft. strip retail center and the develompent scenario under the MU-R zoning assuems 109 appartment units and a 4,000 sq. ft. retail component. This analyis concludes that the MU-R zoning development scenario would lead to an anticipated reduction in overall daily traffic by 370 trips. AM peak hour totals would increase by 8 trips and PM peak hour totals would decrease by 71 trips. Traffic Analysis Summary Table Table 1 - Live Forward Residential Louisville Traffic Generation Comparison ExistingWeekday Vehicles Trips AM Peak Hour PM Peak Hour Use & Size Daily In Out Total In Out Total ■ ■ Strip Retail Plaza (ITE 822) 1,362 35 24 59 82 88 165 25.000 cuare Feet Multifamily Low -Rise Housing (ITE 220) 774 14 44 58 43 25 68 109 Dwelling Units Strip Retail Plaza (ITE 822) 218 5 4 9 13 13 26 4.000 Square Feet Total Traffic Volumes 992 19 48 67 56 38 94 Net Difference in Trins -370 -16 24 8 -26 -45 -71 11 ANALYSIS: The purpose of the Mixed Use Zone Districts is to support implementation of the Highway 42 Revitalization Area in a way that supports potential development of a commuter rail station. The intent is to transition the industrial development within the District to a mixed -use development with multi -modal transportation and walkability oriented to the rail station. While the commuter rail station has not yet materialized as planned, there is a current RTD study underway looking at "Peak Service" rail (limited rail service to support peak hour commuting on a single track) and the new Front Range Passenger Rail commission is also considering the Northwest Rail corridor as a possible alignment for rail service. 6