Project Background

The subject property is located along Sigwalt Street between Highland Avenue and Chestnut Avenue, and is currently vacant. The developer proposes to rezone the property to R-7 multiple family, Planned Unit Development, consistent with the Comprehensive Plan which designates the site as High Density Multi Family. One of the Board’s 2017 Strategic Priorities is to facilitate development of this block.

The proposal includes 86 rental apartments in a five floor building. Parking will be included in the building with one level underground with additional parking on levels one and two. Additional parking can be provided in the Vail Avenue municipal garage per Chapter 28 Section 11.3-2. Variations requested include density, floor area ration, building lot coverage, as well as setbacks along the east, west and north property lines. The Sigwalt setback meets code. The height of the building is approximately 60 feet and will need to be verified by providing the average grade at the front of the building.  The developer will be required to dedicate 8 feet of property along both Highland and Chestnut for public right of way, which increases the variations due to the loss of land privately held. Table A attached outlines the site zoning requirements.

The developer is proposing to contribute $25,000 per required affordable unit towards the Village’s affordable housing trust. This equates to $325,000. In addition, the Village required the developer of Metro Lofts to pay a one time up front fee to the Village for each parking space in the Vail garage that was required for that development. This fee in lieu of providing on site parking compensated the Village for costs to expand the Vail Avenue garage. 

Conclusion

It is recommended that the Village Board evaluate the conceptual site plan and preliminary information available at this time and provide preliminary feedback regarding the proposed development, specifically, as it relates to the proposed site plan and density variation.