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HomeMy WebLinkAboutJOHNSON FARM - REZONE - 24-00 - CORRESPONDENCE - RESPONSE TO CITIZENs i Colorado's rental mar c t {scancy rates in Colorado dipped to 3 percent in October, down from 4.1 1 percent in February. During the same , period the average rent for a two bedroom apartment increased less than 2 percent. Here's a look at vacancies and rents across the state. Aspen 30 30 1999 2000 Vacancy rate 0.6% _ 0.9016 Average rent $1,096.35 $987.93 6olorado Springs 4acancyrate 4.1% Me ;overage rent $610.30 $668.21 Durango Vacancy rate 3.5% - Average rent $639.12 $640.67 Eagle County Vacancy rate OA%' 0.46fa Average rent $958.28 $996.57 Fort Collins/Loveland Vacancy rate. 2.9% 1.11016 Average rent $668.25 $657.64 Fort Morgan/Sterling Vacancy rate 3.6% .12.5% ,Average rent $349.89 $425.55. Glenwood Springs Vacancy rate 2.3°/, 2.7% Average rent $703.55 $658.07 Brand Junction Vacancy rate 4.5% 4 7%„ Average rent $460.25 $493.87 ureetey Vacancy rate 4.7% . lr1a - Average rent $563.66 $538.56 Bake County Ocancy rate 4.5% 4.2°f 'l91 Average rent $554.96 $575.71 Vacancy rate 5.0% 4.7%` verage rent $428.42 $476.17 summit County Vacancy rate 3.20/0 1.1 %' Average rent $780.17 $742.98 Source: Colorado Division of Housing The Denver Post Apartment market tightens. Vacancy rate outside Denver area drops to 3%; average monthly rent rises to $730.65 By John Rabchook . Nems Real Estate Editor--. The average apartment vacancy rate outside the Denver area was only 3 percent at the endof October, a 26.8 percent drop from the 4.1 per- cent vacancy rate in February. It also marked a 26.6 percent drop from the 3.8 percent vacancy rate a year ago, said Gordon Von Stroh, the University of Denver business pro- fessor who completed the report for the Colorado Division of Housing. "I think the dropping vacancy rate speaks to the vibrancy of our market, both in the Denver area and the rest of the state," Von Stroh said. Overall, the apartment market outside Denver is even tighter than the metro -area vacancy rate, which stood at 3.7 percent at the end of the third quarter. „ The average monthly rent out- side Denver is $730.65, compared to the $762.03 average monthly rent VACANCY RATES Apartment vacancy rates for some Colorado areas: Aran Vacancy rate Eagle County 0.4% Loveland 0.7% Aspen • 0.9% Summit County 1.1% StBamboat Springs 1.3% Fort Collins 1.9y.) 'Alamosa_ 2.5 Glenwood Springs 2.7% Colorado Springs 2.8% Gunnison Montrose 3.0% Greeley 3.0% Buena Vista/Salida 3.6% Canon City , 4.0% Lake County 4.2% Pueblo 4.7% Durango 6.2% Fort Morgan/Steriing 12-5%. Source: Colorado Division of Housing for the metro area. The average rent outside Denver was $716.64 in October, according to the Colorado Multi -Family Housing Rental and Vacancy Survey. - The survey is conducted in Feb- ruary and in late fall to account for seasonal differences in ski resorts. "Given how tight the apartment market is outside of the Denver metro area, I'm surprised that rents haven't gone up even more,". said Tom Hart, director of the Division of Housing. The report shows that a person needs an annual salary of $29,240 or $14.06 per hour — to com-. fortably afford an average apart- ment. Hart said he suspects a lot of people are getting roommates because they can't afford apart- ments. Hart worries that if a person spends too much of his income on rent, he will drop other necessities, such as car insurance. "I think for most people, the first priority is to put a roof over their head," Hart said. - - With heating prices up as much as 40 percent, he said some land- lords may adjust rental rates lower to make up for the increased heating bills. " While many, economists 'have forecast an economic slowdown in Colorado, Hart said the numbers don't reflect that. "I don't think we're having a cri- sis in the apartment market, but it is a market that has been tight and remains tight," Hart said. "It seems that we're still seeing a lot of eco- nomic growth, despite predictions about this year." The Cumberland Companies, Inc. 6300 South Syracuse Way, Sulte 293 • Englewood, CO 80111 303/779-9009 . Fax 303/220-1818 Troy Jones December 6, 2000 Fort Collins Current Planning 281 N. College Avenue Fort Collins, CO 80522 Re: Recent Fort Collins Apartment Vacancy Rate Data /Johnson Farm Rezoning Dear Mr. Jones: Enclosed please find two articles published on December 6, 2000 by the Denver Rocky Mountain News and the Denver Post newspapers, based on a recent market study by the Colorado Division of Housing. This article confirms the accuracy of the apartment vacancy rate data presented at the November 16`h Planning and Zoning Board hearing for the Johnson Farm Structure Plan Amendment and Rezoning. It should be noted that if ski resort communities are excluded from the analysis, the Fort Collins / Loveland metropolitan statistical area has the lowest apartment vacancy rates in the state of Colorado. This latest apartment vacancy rate information, combined with the detailed market study prepared by Ross Consulting showing a significant shortage of multifamily land relative to other land uses, further supports the immediate need for additional land to be made available for higher density rental housing within the City. Industry experts agree that the effect of this shortage of available multifamily housing combined with the shortage of land zoned for future multifamily housing will likely result in significant increases in apartment rental prices. Approval of our Johnson Farm Structure Plan Amendment and Rezoning application will help rebalance this shortage of available multifamily land within the City and serve to partially address this undesirable rental housing market condition. It is likely that this market condition will continue to worsen, further pricing some residents out of the housing market, unless more land resources are committed to new multifamily housing opportunities. Because of the direct relevancy of this information to our Johnson Farm Structure Plan Amendment and Rezone application, I respectfully request this information be included in the information package provided to City Council for their review prior to our scheduled City Council hearing. Please contact at (303) 741-1113 should you have any questions or comments. Thank you for your assistance in this matter. Cor Brock Chapman Cc: Clark Mapes, Advance Planning Cameron Gloss, Current Planning h.. Ax- Tntni I►nlfc A LMN SFD / SFA 18.56 ac 5 - 8 du/ac 93 - 148 B MMN SFA / MF 29.62 ac 12 - 18 du/ac 355 - 533 C E Employment 7.18 ac (Est.) .30 FAR 93,828 SF+/- D/E Park/OS 3.01 ac N/A N/A MIXED USE 55.35 ac 8.1 -12.3 du/ac 448 - 681* Units * Actual numbers will be less once park / OS areas are Included. JOHNSON FARMS — PROPOSED MIXED -USE NEIGHBORHOOD: - Instead of the entire site being developed as (E) Employment uses (previously described), applicant is proposing a primarily residential mixed -use zoning application that includes: - 18.5 acres of Low Density Mixed Use Neighborhood (LMN), allowing 93 - 148 units - 29.6 acres of Medium Density Mixed Use Neighborhood (MMN), allowing 355 - 533 units - 7.2 acres of Employment (E), allowing 81,675 - 94,089 square feet of these commercial uses. - 3.0 acres of the above uses will be committed to parks and open space. - This proposal allows for approx. 87% of the site to be used for residential, parks / open space and only 13% of the site to be used for Employment (E) uses (previously described). - ODP: The proposed Overall Development Plan (ODP) permits between 431 — 655 total units. - Traffic Generation: Traffic engineers estimate total traffic generated from the mixed LMN, MMN and E uses proposed to be approximately 5,113 vehicle trips per day. Note: this is approximately 40% less traffic generated by the proposed Johnson Farm mixed -use residential community than if the site were zoned and constructed as all Employment (E) uses. Other Important Facts: 1. Because the site is in currently in a Transition (T) zone district, the Fort Collins City Council must act to rezone this property within 80 days of the Planning Commission hearing held on November 16, 2000. This property cannot stay in the Transition (T) zone district once Planning Commission has reviewed it. Therefore, if City Council does not approve the applicant's request to rezone the property to LMN, MMN and E (the mixed -use residential neighborhood described above), the property must be zoned to (E) Employment. At that time, any of the permitted uses within Employment (E) described above can be approved and constructed subject to a Type I — administrative public hearing review, conducted by an appointed administrative hearing officer. 2. Poudre R-1 School District representatives have stated that students from the Johnson Farm community will attend Laurel Elementary School. This is consistent with Poudre R-1 school attendance boundaries. 3. Based on comments from area residents, the applicant / developer has offered to facilitate meetings between the Parkwood East neighborhood and the City of Fort Collins Traffic Engineering Department to discuss traffic calming implementation options within the Parkwood East. In addition, the applicant / developer has offered to share in the cost of these solutions. 4. Per City policy, the Current Planning Department is responsible for sending public hearing notices to residents within 500 feet of the subject site, and not the applicant / developer. 5. The applicant / developer cannot build 29 acres of apartment buildings, because the City Code requires at least two different housing types within this 29 acres of MMN zoned land proposed along Timberline. The applicant is proposing approximately half of this proposed MMN land be utilized for condominiums / apartments (located closest to Timberline) and the other half be used for townhomes (between the condominiums / apartments and the single family homes along the western portion of the site). See the attached land use map 6. Completion / build -out of the proposed development estimated to take 7 — 9 years (2007 — 2009). Information Sources: 1. Fort Collins Land Use Code: Section 4.22 Employment District (E). (available at the City's web site www.ci.fort-collins. co. us) 2. Application for Rezoning/Structure Plan Amendment on file with the City of Fort Collins Current Planning Department, submitted by Cumberland Companies (applicant / developer) — available for review by the public. 3. Fort Collins Current Planning Department (Troy Jones, City Planner) (970) 221-6750 4. Poudre R-I School District (Dr. Ruth Herron, Executive Principle) (970) 490-3302 5. Fort Collins City Plan / Comprehensive Plan JOHNSON FARM REZONING / STRUCTURE PLAN AMENDMENT FACTSHEET CURRENT SITE ZONING AND STRUCTURE PLAN INFORMATION: - Size and Location: 55 acres at NW corner of Drake and Timberline. - Current City Structure Plan: designates the entire site to be zoned as "E" Employment. - Current Zoning: The site is currently zoned Transition (T) — this is a temporary zoning. - Allowable "E" Employment Uses subject to a Type I - administrative public hearing review: public / private schools, vocational / technical training, public facilities, parks, transit facilities, hospitals, offices, financial services, bars and taverns, veterinary facilities, clinics, clubs and lodges, parking lots and garages, child care centers, plant nurseries and greenhouses, dog day care facilities, print shops, food catering, light industrial, research laboratories, workshops and custom small industry uses, warehouses, composting facilities, warehouse distribution facilities, wireless communication equipment and facilities. - Uses permitted within "E" Employment subject to a Type II - Planning and Zoning Board review: single family detached units containing no more than 6000 s.f., two family dwelling units, single family attached dwelling units, multifamily dwelling units, mobile home parks, group homes, boarding and rooming houses, cemeteries, public and private schools, transit facilities with outdoor repair and storage, golf courses, jails, detention and penal centers, long term care facilities, standard and fast food restaurants, lodging establishments, bed and breakfast establishments, funeral homes, health and membership clubs, convenience shopping centers, artisan and photography studios, veterinary hospitals, drive in restaurants (if located in convenience shopping center, convention and conference center, limited indoor recreation facilities, dry cleaning plants, heliports / helipads. - Secondary Uses allowable within "E" Employment Zone: The following permitted uses shall be considered secondary uses in this "E" Employment zone district and together shall occupy no more than 25% of the total gross area of the development plan: veterinary and small animal clinics, clubs and lodges, child care centers, residential uses, lodging establishments, bed and breakfast establishments, funeral homes, health and membership clubs, convenience shopping centers, convention and conference centers, food catering, public and community facilities, bars and taverns, plant nurseries and green houses, dog day care facilities, print shops, workshops and custom small industry uses, artisan and photography studios and galleries, limited indoor recreation facilities. - Residential Density / Intensity within an "E" Employment zone district: Any residential development within the "E" Employment zone district shall have an overall minimum average density of 7 units per net acre. - Potential size of Employment (E) development: Based on floor area ratios of .30 there could be approx. 718,740 square feet of the "E" Employment commercial industrial / retail / office uses on this site (described above). - Potential Build -Out Under All (E) Employment Use: Based on the allowable secondary uses described above, if the entire 55 acre site is zoned as (E) Employment, the site could be developed as follows: 25% of the site (13 acres) could be used for residential uses allowing 225 ± apartments / condominiums PLUS the remaining 75% of the site (42 acres) used for 548,856 + square feet of primary Employment uses - commercial, industrial / retail / office (described above). - Traffic Generation: Traffic engineers estimate total traffic generated from an Employment (E) use of this site to be approximately 8,530 total vehicle trips per day. The Cumberland Companies, Inc. 6300 South Syracuse Way. Suite 293 • Englewood. CO 80111 303/779-9009 • Fax 303/220-1818 December 11, 2000 Dear Parkwood East Resident: As you may be aware, Cumberland Companies, Inc. is seeking approval from the City of Fort Collins on its application for a rezoning / structure plan amendment that will allow for a new mixed -use residential neighborhood, known as Johnson Farm. The property is located at the northwest corner of Drake and Timberline, east of the Parkwood East neighborhood. In an effort to provide accurate information to area residents, it was suggested that the attached Fact Sheet be prepared summarizing the key points and issues associated with the Johnson Farm application. While this Fact Sheet provides a summary of the Johnson Farm application and related issues, the entire application is on file with Fort Collins Current Planning Department and is available for review by the public during normal business hours. The main phone number of the Current Planning Department is (970) 221-6750. Troy Jones is the City Planner assigned to this application. Please note that Mr. Jones has reviewed the attached Fact Sheet and believes that all of the information is accurate. It has been brought to our attention that there have been numerous formal and informal neighborhood discussions regarding the Johnson Farm application, which may have been based on inaccurate and/or incomplete information. We hope this Fact Sheet helps dispel any misinformation, and instead provides you with accurate information allowing you to make an informed decision regarding your support of Johnson Farms. Please feel free to contact me at (303) 741-1113 should you have additional questions or concerns. Thank you for your time and consideration. Cordially, MM, Won =_ Brock Chapman Vice President