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2525 North Main Street <br />October 28, 2019 <br />Page 5 <br />Project Description <br />The applicant proposes to demolish the existing office building and develop a 256-unit multi -family <br />residential development and surface level parking on the site. The modified project includes a lot <br />line adjustment to create two separate lots. The residential lot will be approximately 4.4 acres in <br />size with the shared parking lot parcel being 1.4 acres. The lot line adjustment is a ministerial <br />process, with no Planning Commission or City Council action required. <br />The residential project is proposed at a density of 58 dwelling units per acre which is derived by <br />calculating the number of units by the net size of the residential property (4.4 acres). This project <br />would result in approximately 444,634 square feet of development (277,281 square feet of <br />residential building and 167,253 square feet of parking structure and common open space <br />structures). The maximum floor area ratio for the subject site will be 1.43 which is derived by <br />calculating the square footage of the gross building square footage (residential development and <br />common open space rooms, excluding the parking structure square footage) by net size of the <br />property. <br />The modified project includes surface level parking lots along the eastern and southern sections <br />of the site. A new driveway on Main Street will provide access to the parking lots with right -in and <br />right -out only turn movements. The east parking lot will be dedicated to the residential development <br />(104 spaces) and is accessible either through the parking structure or via a rolling gate that <br />separates the two lots. The south parking lot is proposed to be used by the Discovery Cube (180 <br />spaces). Use of the parking lot would be managed through a shared parking and reciprocal access <br />agreement. The proposed hours of use for the Discovery Cube southern parking lot are 10 a.m. <br />to 7 p.m. with residents being able to utilize the spaces after 7 p.m. <br />The unit mix is a maximum of 70 percent studio and one -bedroom units and 30 percent two and <br />three -bedroom units. The project proposes 21 different floor plans with an average unit size of 763 <br />square feet. The unit breakdown can be found on Table 2 below. <br />Table 2: Unit Mix and Unit Square Footage <br />�f£YpeTNurtlbei��j�o)a <br />pp <br />�S <br />nits <br />re Fo e o <br />ev Qu ro rofec' <br />ets <br />�o <br />74 <br />29% <br />e <br />Studios <br />556 - 592 <br />60 18% <br />One -Bedrooms <br />103 <br />400/o <br />633 - 930 <br />181 52% <br />Two -Bedrooms <br />75 <br />290/b <br />9 99 - 1,179 <br />84 24% <br />Three -Bedrooms <br />4 <br />2% <br />1,362 <br />22 6% <br />Total <br />256 units <br />100% <br />556-1,362 <br />347 units <br />The residential portion of the building will tier from 2-stories in height (24-feet 8-inches) to 3-stories <br />in height (36-feet 9 inches) to 4-stories (49-feet 5-inches) in height along the eastern edge of the <br />project. The remainder of the residential buildings are a maximum of 4-stories (49-feet 5-inches). <br />The parking structure is 1-level below grade and 5-levels above grade with an outdoor amenity <br />deck on level 6 (60-feet 7-inches). The tallest element of the building is the elevator tower on the <br />amenity deck which reaches a maximum height of 74 feet, 5 inches. One level of the parking <br />