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City Commission Meeting September 5, 2017 18, 2016

Explore the comprehensive plan and progress of a $500M mixed-use property project in Palm Coast by a group of experienced investors. Learn about the city council's concerns and the revisions made to ensure compatibility with the existing neighborhood.

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City Commission Meeting September 5, 2017 18, 2016

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  1. Belle Terre Parkway Kathleen Trail Karas Trail US 1 City Commission Meeting September 5, 2017 18, 2016

  2. PALM COAST 145, LLC • Group of 4 investors. • Worked together for 9 years. • Strong backgrounds in finance, development & construction. • Recent Projects team has worked on: • $500M mixed use property including 282 condos, hotel, and Spa • Miami Condos 68 units valued at $126 MILLION • Miami Hotel valued at $145 MILLION • 200,000 sf addition to the Country Music Hall of Fame & 1 million sf new build of the Omni Hotel, Nashville TN

  3. SITE LOCATION

  4. PROJECT HISTORY April-June 2016 - FLUM & Rezoning Application Preparation June 29, 2016 – FLUM & Rezoning Applications Submitted August 1, 2016 – 1st Neighborhood Meeting December 2016 – 2nd Neighborhood Meeting January 18, 2017 – PLDRB meeting March 7, 2017 – City Council meeting* August 31, 2017 – 3rd Neighborhood Meeting *Continued to allow the Council's concerns to be addressed

  5. Council Concerns & Comments • Comprehensive plan • Criteria of Comprehensive Plan objectives and policies & Land Development Code criteria is appropriate.

  6. 2035 Comprehensive Plan - Goals, Objectives, and Policies • The City has a total of 49,643 ¼-acre, platted single-family lots.… As it pertains to the housing market, there are few choices for existing and future residents. The City must continue to explore different ways to expand the variety of available housing in the City. • CHAPTER 1 – Future Land Use Element • Economic and business development to provide a proper balance of jobs, • shopping opportunities, and tax base; • Diversify the City’s housing stock to provide a variety of housing types and lot sizes to meet the needs of a growing population; • Protection of the City’s existing suburban areas from encroachment of non-compatible uses; • CHAPTER 3 - Housing Element – • Currently, the City’s residential choices are mostly limited to single family homes on ¼-acre lots. Some of these areas are in need of redevelopment activities, such as relating, to promote different lot sizes to accommodate different housing types …. The City also will need multi-family housing units as the population grows in the future.

  7. 2035 Comprehensive Plan - Goals, Objectives, and Policies • Growth of the City’s economic base, including jobs and shopping, has not kept pace with its residential growth • Policy 1.1.4.2 – The Master Planned Development (MPD) zoning district shall allow residential housing types to be mixed with retail, service, office, commercial, and other land uses. Potential areas for MPD’s are strategically located throughout the City to promote infill development and to maximize vehicular and pedestrian accessibility. • Policy 1.1.5.3 – The City shall grant special consideration to adopting LDC regulations which: Encourage the replatting of existing subdivisions to facilitate a greater variety of lot sizes and land uses. Promote better connectivity for vehicles, bicycles, and pedestrians by creating new design standards for subdivisions. • Thorough review by Staff and the Planning and Land Development Regulation Board (PLDRB) recommend to the City Council the approval.

  8. Council Concerns and Comments 2. Section 8 Housing – • Will put in Covenants & Restrictions • Not limited to Multi-Family Units (SF also) 3. Minimum Size of Multi-Family Units • Land Development Code minimum - 650 sf • MPD Agreement Minimum - 750 sf 4. Council - “What will the architecture look like.”

  9. ARCHITECTURAL IMAGERY - COMMERCIAL

  10. ARCHITECTURAL IMAGERY – MULTI-FAMILY

  11. MULTI-FAMILY –Potential Building Elevation

  12. MULTI-FAMILY –Potential Building Elevation

  13. MULTI-FAMILY –Potential Building Elevation

  14. MULTI-FAMILY –Potential 21 Unit Floor Layout

  15. MULTI-FAMILY –Potential 26 Unit Floor Layout

  16. MULTI-FAMILY – Potential Floorplan Examples

  17. Council Concerns & Comments • Council defined compatibility as “consistent with what is there. Not just residential but similar residential (SF)”. • Revised Conceptual Master Plan creates a compatible buffer of single family homes between the existing neighborhood and the proposed multi-family & commercial components.

  18. REVISED MASTER PLAN

  19. KEY COMPONENTS • 134 Single Family Units • 214 Multi-Family Units • 350,000 SF Commercial, Retail & Office • 13-Acre Conservation Area • Amenity/ Recreation Area • Access ONLY from US 1

  20. KEY REVISIONS • Reduced housing mix – from 348 MF units to 134 SF lots & 214 MF units (348 total DU). • Addressed concern of compatibility & transition between surrounding neighbors. • All Multi Family buildings to be 3 stories. • Amenity Area relocated internally & buffered by Conservation Area.

  21. Council Concerns & Comments • Council requested data on availability of apartments in area Palm Coast FactsUS Census- 2015 American Community Survey 5-Year Estimates Zip Code 32164 Total housing units 18,196 1-unit, detached (SF) 16,078 – 88% 5 or More Units (MF) 793 – 4.3% Renter Occupied Housing – 23.5%

  22. Council Concerns & Comments 7. Council requested allowable uses under existing Land Use and Zoning IND-1 Manufacturing Light LD Contractors Material Recovery Animal Boarding Medical Diagnostic Labs Machine Shops Indoor Shooting Ranges Truck Stops COM-3 Bar Tavern Nightclub Liquor Store Day Care Center Landscape Services LP Gas Dealers Automotive Dealers Mini Warehouse Storage Trade Schools

  23. Existing Development Along US-1

  24. Existing Development Along US-1

  25. Existing Development Along US-1

  26. Existing Development Along US-1

  27. Existing Development Along US-1

  28. Council Concerns & Comments 8. Would we Timber land – No 9. Rental properties rates – Market Rate at time of opening. 10. Out Parcels – Attempt to acquire or provide access if unable. 11. Drainage easement and water flow – Comply with all regulations. 12. US 1 and safety issue – Further in depth traffic analysis.

  29. Economic Impact of Project • Initial Investment – $100-$120 million over 3-7 years • Job Creation – • During construction – Peak at 500 people • Fully operation plan – Excess of 600 people • Estimated Tax Base Increase – 73M or 1.46M in Tax Revenue annually

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