Based on David’s picture of public hearing sign on the pile of rubble that might soon be the Trinity Triangle development, it looks like the developer is seeking approval of a life-cycle density bonus for that property at the same time the 315 project is scheduled to go before the planning and city commissions (Sept 4th and 15th).
What is a “lifecycle density bonus”? Luckily, Hugh Saxon explained it at a commission meeting back in ’04 when the ordinance was approved.
Excerpt from the city commission minutes of July 19, 2004….
Mr. Saxon stated that the proposed amendments allow a density bonus for projects that located in the C-2 and C-3 commercial zoning districts where the highest allowable development density already exists. Developers would be allowed a twenty percent (20%) density bonus as long as seventy-five percent (75%) of the units were available to provide lifecycle housing at an affordable rate. For example, if a developer proposed a project in the C-3 district, the current zoning regulations allow for development of 43 units per acre, so if a lifecycle housing bonus was incorporated, the developer could add 8 more units and 6 of those units would have to be available to meet affordable housing objectives.
Mr. Saxon stated that the proposed amendments provided that the standard for determining the affordable pricing structure would be based on a percentage of the area median income (AMI) for the Atlanta metropolitan vicinity. Mr. Saxon added that a specific percentage was not stated in the ordinance so that the City Commission could maintain flexibility in approving projects. However, standards and objectives for providing lifestyle housing were included in the ordinance so that the intent of the program was clear.
Since Livable Growth is concerned with density across the entire city, I wonder where they stand on the issue of providing greater density in order to increase the % of affordable housing in the city. They certainly will have a chance to have their say if both proposals go before the commissions on the same nights.