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HomeMy WebLinkAbout2013-09-03_5_Mtg 4 PPTLand Use Element Amendment Advisory Committee; Meeting 4 September 3, 2013 • Call Meeting to Order • Approval of Minutes • Economic Analyses and Committee Recommendations • Airport Area • Mariners' Mile • Other Area Updates • Outreach Briefing • Next Steps • Public Comments on Non - Agenda Items • Adjournment to September 17, 2013, 3:30 pm FINANCIAL FEASIBILITY • Developers perspective • Land versus construction financing • Residual land value ■ Lease capitalization rates GENERAL PLAN AIRPORT : 11 O12 • 1I b. o� MIN V, LAND USE POLICV X17 C. - ,^• and D la FINANCIAL FEASIBILITY FINDINGS ■ 25 dus /acre financially feasible as replacement for 1 -story office and industrial uses ■ 50 dus /acre financially feasible as replacement for 1 -story office, industrial, and retail uses ■ Robust market for multifamily housing: 4,400+ additional units are supportable ml i 1 Legend WgRIMb VIR ' Rmlw(Yar(M w(u o• wwrrtowvaxrw Lla(n � RwavowwNUl Ltwm IIIII NOlONORNtUMNWI.K •��� N(NLMPII [dIM1111f [ONMNMfrvI %AM gVl11Xf U LAND USE ® Harbor and Marine - Related Commercial, Institutional © Neighborhood- Serving Retail Mixed -Use POLICY Use, Housing and Mixed -Use on Maximum of 50% Buildings [Housing Above Retail], Multi - of Parcels with 200' Uneal Frontage Family Residential, wHh Retail on © Commercia Highway Frontage lolo�' y� ,.V O C� CW Dw f Park �P rF P PY rs P� r" �p l �P 6P 4� 1 < l� 6 y C ■ YyL y�(kb.L, vsL6 tt! a •� 0 500 1.000 Feet ® Opportunkr Sdes ■ C OpenSbeetMap(and) w.Ubot., CC -By SA 1 ,D.k. W1W13 FINANCIAL FEASIBILITY FINDINGS Inland Side of Coast Highway • Four stories feasible and maximizes residential density • Three stories feasible, but does not maximize residential densities FINANCIAL FEASIBILITY FINDINGS Bayfront Side of Coast Highway ■ Project feasibility needs flexibility in building height, lot coverage, and /or parking requirements ■ Other •r D Me( Monday, September 9, 2013 6:00 p.m. Newport [leach Civic Center- 100 Civic Center Community Room Takinq the next step in implementing the 2006 General Plan Learn about the City's Land Use Element Amendment process at our first public information meeting. Your attendance and input is appreciated. N, W tine Aa"aw, senior Pim"ef ■ Review comments from Public Information meeting ■ Finalize land use recommendations as input for Project Description ■ Scope of policy revisions ■ Next Meeting: September 17, 2013, 3:30 pm