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Q&A
Developer's commitment to the application and viability concerns
0:20:03
·
108 sec
Council Member Kevin Riley questions David Rosenberg about the developer's public statement regarding potentially withdrawing the application. Rosenberg clarifies that it wasn't a threat but a statement of project reality, explaining that the project approved by the city planning commission is not viable or financeable.
- The developer's team has been working on the project for over 6 years, demonstrating commitment
- They believe the project can work with the workforce housing option and R70 zoning
- The development team is committed to pursuing the project if it can be made viable
Kevin Riley
0:20:03
You made a very public threat to withdraw the application and build as a right unless your revised proposal is going to be approved.
0:20:11
Now now that you are before us, are you committed to pursue this application, if not, why you present this project to us today?
David Rosenberg
0:20:19
So, Mister Sharon, I don't think it was a threat.
0:20:22
It was a statement of just the project reality, which is that, you know, my clients as developers and with investors have a responsibility to taken to ensure that the equity that they have in this and all the work that they've put in is protected.
0:20:37
And that the project that was approved by the city planning commission is not viable, it's not financeable, and then puts the property in a worse position than the as of right development would be.
0:20:49
And what we said at the time, very separate from how media may have reported it, is that absent a significant change to the project, that let us found a way that let us find a way to make the project work, we would be left with no choice but to withdraw.
0:21:05
But immediately after the city planning commission vote, we got together with our partners with the AFLCIO housing trust to see if there is a way that we could make this work.
0:21:14
And we believe that there is a way to do that.
0:21:17
That is through mapping the workforce housing option on this project, which is why we're here requesting that the council modify the project do the workforce housing project.
0:21:28
We've been at this now in different iterations as you mentioned in your opening remarks for over 6 years at this point.
0:21:34
I think the development team's commitment to this project is clear.
0:21:39
But it needs to be able to work.
0:21:41
And after looking at it every which way, we believe the workforce housing option with the R Seventy that was approved out of the city planning commission can work, and that is a project that we would pursue.