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HomeMy WebLinkAbout220 E. OLIVE ST. - MOD. OF STAND. - MOD120005 - SUBMITTAL DOCUMENTS - ROUND 1 - MODIFICATION REQUESTExhibit 3 Exhibit 4 OLIVE STREET PROPERTIES, LLC 7 JUNE 1, 2012 No Text exceed that of the prior use and in fact the project's bike, pedestrian and transit orientated features may result in a lesser impact on neighborhood parking than the previous office use. Request for Standalone Zoning Modification The subject property abuts the Transportation Overlay District (TOD), which ends in the alley on the West side. The TOD does not require any parking for an apartment project of this type, instead encouraging transit oriented development and use of the Mason Street Corridor. While this property is not in the TOD, it borders the TOD, is not in a dense neighborhood environment and "feels" more like downtown than a neighborhood. Since there is a planned stop for the Mason Street Corridor at Olive Street and Mason Street, the property is in closer proximity to a stop than many properties actually in the TOD. At this time we are requesting that a standalone zoning modification for 220 East Olive Street be approved to allow the construction of up to 42 apartments units, of which no more than 14 shall be two bedroom units, with no on -site parking requirement. Allowing this modification to no on -site parking is required to ensure the property does not become non -conforming at some point in the future due to circumstances beyond the property owner's control. Summary Approval of this request for a standalone zoning modification would facilitate a transit - oriented development, without adverse neighborhood impact, and would upgrade an existing property that is an eyesore and a magnet for graffiti. OLIVE STREET PROPERTIES, LLC 5 JUNE 1, 2012 proximity had no issue supporting up to 60 employees, contractors and visitors at peak utilization. Meeting the Parking Need The Applicant recognizes that some of its tenants may require use of a vehicle instead of walking, biking or using the Mason Street Corridor. The 7 net new on street parking spaces that would result from the development of an apartment project are anticipated to meet part of the need. To further meet those needs Applicant is working with the City of Fort Collins Parking Services department to secure 40 parking permits for the surface parking lot at the southwest corner of Olive Street and Mathews Street, directly across Olive Street from the subject property. A recent informal survey of the evening parking on Mathews Street and Olive Street at 7pm, when resident activity is typically high, found a large supply of readily available spots very near the subject property. This reflects the primarily daytime use of the spots that surround Library Park since visitors to the library or the park are almost always daytime visitors, leaving many open spots overnight. Between new parking spaces being created on Olive Street and Mathews Street, readily available street parking within reasonable proximity to the site and the permits in the City lot across the street, Applicant believes its tenants' parking needs can be fully met. Neighborhood Impact Redevelopment of this property will add quality apartments in downtown Fort Collins and improve the Library Park neighborhood. While some additional competition for parking spaces will of course be created, the use of public parking does not dramatically OLIVE STREET PROPERTIES, LLC 4 JUNE 1, 2012 staff at CSU and other employers along the corridor. As a method of avoiding the typical "car for every resident" mentality the Applicant is evaluating shared use of electric vehicles. In addition we are exploring a potential partnership with the City's Office of Sustainability Services to create a net zero energy development as a FortZed showcase project where the density and focus on non -vehicle owners is an important element of the vision. Finally, Applicant is planning to implement a rent discount for tenants that certify they do not own a car, providing a direct financial incentive to adopt one of the transit oriented transportation methods for day-to-day living. Enhanced Street Parking and Streetscape If the City approves this request for standalone zoning modification and the planned apartments come to fruition the current head -in parking on the Olive Street side of the property will be eliminated and 13 new on -street parking spots will be created on Olive Street and Mathews Street in front of the building. The current streetscape on Olive and Mathews around the building would also be upgraded to current City standards, providing a much needed improvement to this corner of Library Park. Current Standard The current standards for parking in NCB require 1.5 parking spaces for each one - bedroom unit and 1.75 spaces for each two bedroom. At the maximum envisioned density of 28 one -bedroom units and 14 two -bedroom units that would be 67 parking spots. To put this in context with prior uses of this site, when the subject property was used as a City municipal building and an office building the public parking within close OLIVE STREET PROPERTIES, LLC 3 JUNE 1, 2012 c) Use of at least 6 garage bays on Olive Street to repair vehicles d) Use as a research and development lab for Vipont e) Use as office space for the Northern Front Range Metropolitan Planning Organization including operation of the SmartTrips and VanGo programs f) Use as office space by the City of Fort Collins including where the public was instructed to pay parking tickets prior to the construction of its new offices g) Use by a software company that regularly brought in customers for training courses These historical users did not have any on -site parking, but.did utilize 6 head -in public parking spots on Mathews and otherwise utilized public parking and street parking facilities to accommodate peak usage of about 60 employees, contactors and visitors at any one time. Prospective Use of the Property In the last 4 months the applicant has been working on plans to develop apartments on the property that fit the context of the existing neighborhood. Library Park Lofts is envisioned to be a bike, pedestrian and transit oriented apartment building with 36 to 42 units consisting of primarily one -bedroom apartments and no more than one-third two - bedroom apartments. Each tenant would be provided a locking bike storage unit to encourage use of a bike as a primary means of transportation. Given its two -block proximity to Old Town Square this location is highly attractive to residents with jobs downtown that would be easy to walk to. Prospective tenants are employees of local restaurants, downtown based businesses and the Poudre River Public Library District. As the Mason Street Corridor is completed the project becomes easily accessible to OLIVE STREET PROPERTIES, LLC 2 JUNE 1, 2012 M 01j i2.0005 Request for Standalone Zoning Modification For 220 East Olive Street Background This request is for 220 East Olive Street in Fort Collins and the applicant is Olive Street Properties, LLC. The subject property is a 12,600 square foot lot with an existing 12,162 square foot building at the Northwest corner of Olive and Mathews that includes office space and warehouse space. The property faces a city parking lot to the South and Library Park to the East. Just to the North is a historical apartment building and just to the West is an alley. Prior to the Great Recession the City approved a number of modifications required to make a condominium project feasible on the property. Unfortunately after an asbestos remediation project was completed on the building in summer 2008 there was a downturn in the Fort Collins real estate market and construction of the condos was halted, leaving the building in a state of partial deconstruction. See Exhibits 1 through 4. There is an opportunity for urban renewal of this property with infill of a bike, pedestrian and transit oriented apartment project, which is described through this request for a standalone zoning modification. Historical Use of the Property Previous uses of this property have included: a) Use of the alley warehouse to repair vehicles (exhibit 4) b) Use of the southeast corner as a drive -through to pay utility bills OLIVE STREET PROPERTIES, LLC 1 JUNE 1, 2012