treasure island development program flex zoning and... · • this flexibility allows the...

Treasure Island Development Authority

Treasure Island Development Program

Item 5: Flex Zoning and Height Requirements

March 19, 2019


Design for Development (D4D) – T4.4 Maximum Height


Figure T4.q – Maximum Height Plan


T4.4.2 – Flex Height Zones


T4.5 Flex Zoning – Building Separation


Flex Zoning – Subphase 2

• D4D includes four parcels with Flex Height Zones, and TICD is currently designing buildings to take advantage of the allowable height.


Flex Zoning – Subphase 3

• Subphase 3 Application includes potential towers at the indicated sites

• This pattern precludes most opportunities for TIDA to exercise flex zoning on our parcels, but not economically or programmatically advantageous


Maximum Heights and Construction Types


Construction Cost /Sq Ft By Building Type

Weighted cost/sf based on MOHCD Pipeline Projects

Type I: • Unlimited levels, typically concrete and/or steel• Construction cost/square foot ~ $528

Type III and Type V hybrid over Type I: • Up to 5 levels wood over 1-2 levels concrete• Construction cost/square foot ~ $475

Type V over Type I: • Up to 4 levels wood over 1-2 levels concrete• Construction cost /square foot ~ $461


Authority Unit Parcel Analysis

CEQA cap – 8,000 unitsTotal affordable units = 2,173 (27.2%)

Of the 2,173 units: • 1,866 are “Authority Units” to be developed by

non-profit affordable housing developers on 20 pre-identified parcels

• Improved land is delivered free, clean and fully entitled

• 307 affordable units are inclusionary units within market rate buildings developed by TICD/affiliates


Authority Unit Parcel Analysis


Authority Unit Entitlement

• Based upon preliminary massing studies, TIDA has capacity to develop the 1,866 “Authority Units” utilizing fewer than our 20 allotted Authority Lots

• In these studies, most sites utilize Type V construction

• Additional units could be added by switching to Type III construction and be compatible within existing height limits adding approximately 180 units


Parcel C3.1 Case Study

Parcel Size: 49,497 sq feet/1.14 acres

Height Limit: 40’ along shared Right of Way125’ along Avenue C

Target Population: Catholic Charities and Pre-DDA Households



Parcel C3.1



Unit Count: 135 Units 149 Units

Building Type on Shared ROW:

4 levels of Type V on grade

4 levels of Type I townhomes

Building Type on Avenue C:

5 levels of Type III over 2 levels of

8 levels of Type I on Avenue C

concrete/Type 1



Unit Count 135 Units 149 Units

Hard Cost/Sq.Ft. $335 $349

Total Development Cost/Unit $750,929 $760,567

Total Development Cost $101,375,390 $113,324,430

Gap $44,168,835 $50,903,390

Gap/Unit $327,177 $341,633

Gap/unit for each of the 14 additional units $481,040



Reasons why per unit cost for additional units are so high:

• Units are larger than typical to reflect replacement unit obligations

• Type I construction is more costly and costs include added expense for geotech work to accommodate a heavier building

• 10% of units must be built without subsidy to accommodate pre-DDA over income households at initial occupancy



Conclusion:

The cost to increase from Type III to Type I is not worth the additional $6.7 million in gap based on existing affordable housing funding sources and program requirements

Would delay full funding and delivery of building.


Developer Parcels

• Design for Development and zoning provide TICD with sufficient development flexibility

• This flexibility allows the development of Treasure Island to adjust to the economics throughout the build-out

• Flexible Height areas on east side of island and parcels zoned to 125 ft. provide ample opportunity to build seven stories or more over most of the Island

• The 8,000 cap on total units limitsdevelopment capacity, not the 65 ft height limit in the Cityside neighborhood

treasure island development program flex zoning and... · • this flexibility allows the...

Documents