The attached ordinance will rezone the 3.43 acre property from AC-1/T/W/SP/AR, O-1/T/W/SP/AR and, R-2A/T/W/SP/AR to PD/T/W/SP/AR.  The subject property consists of the block located north of W. Princeton St., south of W. Smith St., and east of Edgewater Dr. The proposed Planned Development (PD) will allow a partially 6-story, up to 226 unit multi-family development and 44,518 sq. ft. of commercial use.

This PD will be subject to the standards of AC-1/T/SP except commercial uses are prohibited outside of the T6 transect area.  The proposed PD also includes a density bonus of 26 du/ac allowing a total density of 66 du/ac where 40 is the maximum allowed by the AC-1 zoning district.

Previous actions regarding this application are as follows:

·         June 17, 2014- MPB recommended approval of the subject PD rezoning (ZON2014-00013 and associated Growth Management Plan amendment to change the entire site to the Community Activity Center designation and for the creation of a new subarea policy S.4.7 (GMP2014-00011 and GMP2014-00012).

·         July 14, 2014- City Council accepted the meeting minutes of the June MPB hearing.

·         September 15, 2014- City Council voted to continue first reading of the subject ordinance to the September 29 council meeting.

·         September 29, 2014- City Council voted to approve the first reading of the subject ordinance, and modified the ordinance to restrict commercial development through a future master plan to 44,518 square feet, and required revisions to the project to strictly meet the transect of the Edgewater Drive Special Plan.  The second reading of the ordinance, which was originally scheduled for this date, was continued by vote of the Council to the October 20 meeting.