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PRESENTATION
Deed restriction details for Kings Highway development
1:32:54
ยท
71 sec
The applicant outlines the details of a proposed deed restriction that will be placed on the property to address community concerns and limit development.
- 2,503 square feet of ground floor space on Kings Highway to be dedicated for community use at below-market rent
- Building height limited to eight stories
- 60 parking spaces to be provided
- No more than 90 dwelling units in the building
- All restrictions to be memorialized in a restrictive declaration attached to the property
Eric Palatnik
1:32:54
And if you can go to the next page, please.
1:32:57
This next page gives you the entire deed restriction.
1:33:01
Wait for the slide to change.
1:33:04
Okay.
1:33:05
So as you can see here from this, the deed restriction if I just get to my page here that mimics that, I apologize.
1:33:16
The deed restriction agrees to include 2,503 square feet of floria at the Ground Floor on the Kings Highway frontage of the building to be dedicated to a to be determined organization at the community and council members choosing to utilize that space at a below market rate rent that will be tied to the consumer price index.
1:33:38
Limiting the height of the building to eight story is shown in the revised plans.
1:33:41
And as we have spoken to at length at the community level, 60 parking spaces to accommodate the building, which we agreed to last night will have no more than 90 dwelling units.
1:33:51
All of that will be memorialized in in a restrictive declaration, which will attach to the property.
1:33:57
So between that and reducing the development from an r seven x to an r seven a, we are hoping that we have met the concerns of both the council member and the community.
1:34:05
And that is the essence of our presentation, and now I will cruise through the remainder of it so that we can meet some time constraints and let other people speak.