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Narrative V1NARRATIVE We are going to propose to The City of Meridian for an annexation, and preliminary plat for 1235 E. McMillan Road. Parcel No_ R1608650120. 4N1E1. This is currently 4.835 of an acre_ As of right now there are 14 buildable residential lots, 1 lot to retain the current home on the site. Access for that home will be into the 14 lot subdivision, and no longer into McMillan Road. On March 151h we had the city required Pre -application meeting. We are taking those notes, and incorporating them into the plat. in addition on April 12th 2022 we has the required neighborhood meeting. We sent out around 110 invitations to the meeting. We are including the names of the property within 500 feet. There were about 110 invitations that went out. We sent them out about 14 days before the meeting. We are including the areal of the area that the invitations went out to, and a copy of the letter, and the Neighbor meeting sign up sheet. There was only one neighbor that cam to the meeting. He just wanted to know if we would have much dust blowing around during construction. We will be requesting a rezone to R-4, and annexation. The average lot size will be 10,400 square feet, similar to the surrounding area. Havasu Creek Subdivision is contiguous to the South. That subdivision is also zoned R-4. The subdivision to the East is new and called Silver Springs. It is contiguous as well, and it is zoned R-4. The subdivision across the street to the North is Tustin Subdivision and is zoned R-4. Another subdivision across McMillan to the North and a little West is Saguaro Canyon, and also zoned R- 4. The subject property is still in Ada County and has a current zone of RUT. There is a contiguous property also to the West that is 2.87 of an acre owned by David Meyers, 1157 E. McMillan. This used to be 5 acres, and Mr_ Meyers sold some of it off to the Silver Springs subdivision, but Mr. Meyers property is already annexed into the city and is zoned R-4. The Finished housing product should be very similar to the home in Silver Springs Subdivision, In that subdivision out of 36 home with a mix of single story, and two story home the average square footage is 3100. The largest square footage is 3620 sq. ft., and the smallest is 2102 sq. ft. The elevations should be similar too, being of siding, stucco, brick, and cultured stone, and asphalt composite roofing. The average sales price of these homes is $808,798.00. The sales price range is $1,199,900.00 on the high end, and $719,900 On the low end. The lots in Matador Subdivision are similar in size, and so we anticipate similar size homes_ Under the name convention of elevations there are six home that show elevations that will be very similar to the material, and plans. Exterior elevations will have a mix of siding in the Hardie Board verities, including lap siding, ship lap, bat and board. Variations of brick veneer, real brick, cultured stone, rock, and stucco. Roofing will be of asphalt shingles. If the market maintains we anticipate the price range could be higher, or if materials, and labor continue to go up. It is also entirely possible that the prices could be lower if the market does a correction, and material, and labor goes down. Its very hard to project out in advance of getting the subdivision approved and developed. We are seeing some correction to the market now. The rise in interest rates continues, and is showing signs of continuing to go up. This is already having an effect on the buying power of potential buyers. The market price of homes seems to be selling of the asking price rather and over the market price. We do not anticipate that we will be asking for a PUD, or any variances. We expect to comply with the recommendations of the R-4 zoning. Front yard setback 20', rear yard 15', side yard 5', height of structure on two story homes 35'. All common lots will be maintained by the Matador Estates Subdivision Homeowners Association. Storm water to be retained on site using Seepage Beds in common area. In Summary Matador proposed subdivision is considered to be "infill" compatible to the surrounding area both in lot sizes and home sizes. This project will be compatible to the surrounding area, and comply with the city codes, and the city comprehensive plans. This will also eliminate a current ingress, and egress, to McMillan Rd. The city public works department seems to indicate that there is adequate city sewer, and city culinary water. This property is good irrigation right which will lend to a good source of pressurized irrigation water system. Thanks to the city staff for working with us on this. They have been very helpful. We hope this will be a good fit for everyone involved_ There has not been anyone that we have talked to in opposition to Matador Subdivision. Please let us know if we can answer any additional questions.