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CC - Narrative City of Meridian Planning Division c/o Joe Dodson, Associate City Planner 33 E. Broadway Ave., Suite 102 Meridian, Idaho 83642 RE: Gramercy Commons—Development Agreement Modification Application Narrative Dear Joe: Intermountain Pacific, LLC is pleased to submit this development agreement modification application in relation to the development of Gramercy Commons,a 164-unit 55+luxury senior apartment building. We have appreciated the assistance and guidance of City staff over the past several months as we have started development of this project. Background Gramercy Commons will be a highly amenitized apartment development focused on an active senior lifestyle. In addition to comfortably sized units, the project will provide amenity spaces including a club/game room, a movie room, an expansive outdoor pool and hot tub area, a large fitness area, conference and meeting rooms,a pickleball court,a flowering and vegetable garden,and a sunset lounge. One of the distinguishing features of the project will be the parking solution. Rather than create an expansive surface parking field, the building will feature a wrap-style parking garage, where the parking garage is located on the building interior with the units surrounding it. The result is a parking garage which is hidden from exterior view;saves acreage to dedicate to structures and not to parking;and gives tenants a comfortable parking option on the floor of their unit and out of the elements. This is a first within the City of Meridian and, we hope, an opportunity to explore new forms that will address our community's needs. Located within the Gramercy subdivision,the property enjoys the benefits of a mixed-use neighborhood— Gordon Harris Park to the south, restaurants, physician offices, banks and other services to the north—all within walking or biking distance with established pedestrian connections. This is an appropriate location for this use and we look forward to discussing this application at hearing. Details of the Application A few applications are required in order to bring this concept to fruition. The first is a modification to the existing development agreements for the Gramercy project. We are requesting a development agreement modification that would permit multi-family in this location. Why mult-family? This project is in the Mixed Use— Regional designation. Mixed use areas of the City's Comprehensive Plan are to include a variety of uses,with thought given to transitioning a variety of uses. 1 DA Modification Narrative—Gramercy Commons This project is part of the very successful Gramercy project, but is also located immediately adjacent to Mountain View High School, pathways, and other residential uses. In terms of commercial viability, it is about as low visibility as a commercial property can be, tucked away in the lower western corner of Gramercy,again next to the high school. This makes a transition from residential and institutional uses to commercial through this multi-family project particularly appropriate. Per the Comprehensive Plan, Mixed Use Regional areas are to include a "mix of employment, retail, and residential dwellings and public uses near major arterial intersections. The intent is to integrate a variety of uses together, including residential, and to avoid single use developments...." (Comp Plan, at 3-18). In MU-R areas, residential uses are to play a significant role. In fact, "[r]esidential uses should comprise a minimum of 10% of the development area at gross densities ranging from 6 to 40 units/acre." (Id.). Commercial and retain, meanwhile, are capped and "should comprise a maximum of 50% of the development area." (Id. at 3-19). Given the Comprehensive Plan's emphasis on retaining residential uses in MU-R, given the property's location at the rear of Gramercy, given the property's limited commercial visibility, and given the need to transition from the high school to other commercial and multi-family residential uses, we believe this is an appropriate location for multi-family and that a development agreement modification is appropriate. Note that the northern sector of the property will be retained for commercial uses. The goal of a mix of uses at Gramercy will remain intact. In addition, the property will remain subject to all other Gramercy entitlement requirements, including cross-parking for the entirety of the project despite the fact that this wrapped concept will provide more than adequate parking for itself. Modifications to the Development Agreement It is the applicant's preferred approach to simply modify the existing development agreement provisions rather than creating a new development agreement for this area. This emphasizes the applicant's intent to remain within and a part of the larger Gramercy project. In particular, this request is to modify the Development Agreement associated with File No. AZ 06-021, originally dated August 14, 2006 and recorded as Instrument No. 106141056 on August 31, 2006. and subsequently amended from time to time, as follows: that certain Addendum to the Development Agreement dated January 31, 2008 and recorded as Instrument No. 108022888 on February 28, 2008; that certain Amendment to Development Agreement dated April 2, 2012 and recorded as Instrument No. 112033248 on April 11, 2012; that certain 2nd Addendum to the Development Agreement dated June 25, 2013 and recorded as Instrument No. 113071290 on June 26, 2013; that certain First Amendment to Development Agreement dated February 18, 2014 and recorded as Instrument No. 114012738 on February 19, 2014; and that certain Addendum to the Development Agreement dated February 7, 2017 and recorded as Instrument No. 2017-012606 on February 10, 2017 (collectively, the "Development Agreement"). 2 DA Modification Narrative—Gramercy Commons The Development Agreement would be modified by a new "Second Amendment to Development Agreement" that would provide a new Section 4.8, which would state the following: Notwithstanding anything to the contrary contained in this Development Agreement(as amended), multifamily uses will be permitted in accordance with File No. on the portions of the property legally described, as follows: Lot 1 in Block 3 of Gramercy Subdivision No. 1, according to the plat thereof,filed in Book 99 of Plats at Pages 12619 through 1262Z Records of Ada County; and a portion of Lots 44 and 45 in Block 3 of Gramercy Subdivision No.2(Book 100 of Plats, at Pages 12961 and 12962),situated in the Northeast quarter of Section 20, Township 3 North, Range 1 East, Boise Meridian, City of Meridian,Ada County, Idaho and being more particularly described as follows:Beginning at a found 5/8-inch rebar marking the Southwest corner of said Gramercy Subdivision No. 2, which bears South 00°24'04"West a distance of 507.32 feet from a found 5/8-inch rebar marking the Northwest corner of said Gramercy Subdivision No. 2; thence following the boundary line of said Gramercy Subdivision No. 2, North 00°24'04" East a distance of 243.23 feet to a set 5/8-inch rebar; thence leaving said subdivision boundary line, North 89°47'31" East a distance of 417.28 feet to a set 5/8-inch rebar on the boundary line of said Gramercy Subdivision No. 2; thence following said subdivision boundary line the following two (2) courses: 1. South 00°13'58" East a distance of 247.68 feet to a found 5/8-inch rebar marking the Southeast corner of said Gramercy Subdivision No. 2,2. North 89°35'56" West a distance of 420.00 feet to the Point of Beginning. We appreciate Staff's work on this application and look forward to additional discussion as we move forward with this DA modification application and a subsequent conditional use permit application to permit multi-family use in the C-G zone. Very truly yours, Tv�1C Ok, Mike Chidester VP of Development Intermountain Pacific, LLC 3 DA Modification Narrative—Gramercy Commons