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Home My WebLink AboutRFC Inclusionary Housing.pptRiverfront Crossings and Inclusionary Housing Upzoning Should the Riverfront Crossings Code be amended to require affordable housing as an integral part of any new residential development? NDS Riverfront Crossings District Lin iversity Subdistrict Central Crossings Subdistrict Riverfront Crossings District 'Neighborhood of Opportunity' Goal of the Riverfront Crossings District is to develop an economically vital, higher -density, mixed-use, mixed -income, pedestrian friendly, sustainable neighborhood close to Downtown and the University of Iowa campus The Riverfront Crossings Master Plan was adopted in 2012 The Riverfront Crossings Form Based Code (a zoning code) was adopted in June, 2014 L. _ �CRWC` q. v.: n __ ate• Unrvers 75ur'au Pxkmg _c C mEusF Iry Ic A K.L dac I. �n and 1 J ., 4unrt30se+'e^il Lfm pe ��' m r � � 4 d G Existing Zoning and Development Potential Existing Zoning in the Riverfront Crossings District is primarily a combination of Community Commercial (CC -2), Intensive Commercial (CI -1) and Planned Residential Multi Family (PRM) These zones have a 35 -foot height limit (limited additional height is possible in the PRM Zone) Residential uses are not permitted in the CI -1 Zone Residential uses are only permitted above the first floor of CC -2 Zone properties The PRM Zone allows only a limited amount of commercial uses Riverfront Crossings Development Capacity The Riverfront Crossings Zones allow for a significant increase in development capacity, and in the mix of uses allowed on a property in this area. Allowable building heights are increased, with the potential for additional building height Reduced parking requirements for many uses A greater mix of uses (less separation of uses) is allowed within buildings and areas City investment in neighborhood infrastructure/amenities, most significantly the Riverfront Crossings Park YapermN. / _ ).Mt•rtp�.•.aler n�u. _ f.plfrl�lrt w�Q�b+r Me�heMpr '. 1UbYf f•�benO Qen Spree . LL ��ffL Building Heldit .: _- o--------------o-------------- • Allowable base height in stories �_. ; • Minimum height — establish a minimum "street i all" that ' makes it comfortable i; for pedestrians j • Upper floor stephacks may be required • Bonus height is available that would allow taller buildings -------------- G Ha� 1. 7o..." 1rMhnHf. n� )�MMTn.6NMe�nY>t. _ )IIMe�mn,YNwrc�nw�. _ YYwlt. mu, wllfi bnaPmll�on.pe W kPmk. wN �bm 4.Ne LA L ME�g Hei��ht ------------------- Bonus • bl a_mmiun bonus height in stoi7ies • Dlust meet the approval criteria to be granted bonus height LTp to ? stories can be approved achrAnistratively- ( Level i Design Review) Requests for 3 or more stories of bonus height must be approved by- Cotmeil (Level II Design Review) w ,sur Ott gr_4r j •I��wa As WR 6: Before and After Renderings Showing the New Riverview Neighborhood Development in the West Riverfront District Sub -Area Plan surrounding a new riverfront park Inclusionary Housing(IH) Requirement Fundamental purpose is to provide a minimum percentage of affordable housing units as an integral part of new residential development. To achieve this goal, incentives are commonly provided to the developer for the inclusion of affordable housing. IH policy is one tool cities have used to: 1) increase production of affordable housing: 2)establish a relatively permanent stock of affordable housing units: and promote mixed income neighborhoods Inclusionary policies are most effective when: They are mandatory Combined with meaningful developer incentives Required in areas of the community that have the potential for substantial new residential growth(such as Riverfront Crossings) Developer incentives/benefits have been found to be most effective when they: are meaningful are achievable Offset the profits lost on below -market -rate affordable units Do not impact the price and supply of market -rate units Inclusionary Housing is not a panacea for attaining/solving housing challenges It does not guarantee the production of affordable housing units It does not guarantee the location of affordable housing units in a given school attendance area Affordable housing units are produced only to the extent that overall development proceeds in an area Recommendations Recommendation #1:(effective immediately): Any time the City participates financially in a residential development project, a minimum of 10% of the units must be designated for affordable housing. The City may consider a fee in lieu of the provision of affordable housing (such as in an all -student housing development) Recommendation #2: Staff should convene an ad-hoc work committee to study and develop, for City Council consideration, a proposed inclusionary housing upzoning requirement for the Riverfront Crossings area. This committee will include individuals who have a broad range of housing expertise and experience (See memo for names of volunteers) Caveat The design and ultimate adoption of an inclusionary housing upzoning requirement for Riverfront Crossings will be a challenge for all involved. Further study of this issue will be worth the investment of committee and City Council time only if there is genuine interest in pursuing an inclusionary housing requirement. Out of respect for potential committee members' time and goodwill, it is critical that a majority of Council be willing to give serious consideration to the recommendations of an ad-hoc committee.