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STAFF REPORT <br />TO:Chair Kwapick and Members of the Planning Commission <br />FROM:Corrin Wendell, Community Development Director <br />DATE:April 14, 2022 <br />RE:2040 Comprehensive Plan Amendment – 0 North Owasso Blvd (Twin Lake Blvd) <br />– Case #1411 <br />ACTIONS TO BE CONSIDERED <br />To approve a 2040 Comprehensive Plan Amendment for reguide the land use of parcels located <br />at 0 North Owasso Blvd, PID 313022310001 and PID 313022310002 from Medium Density <br />Residential to High Density Residential on the Future Land Use Map. <br />BACKGROUND <br />The City has received a Comprehensive Plan Amendment application to request reguiding of two <br />parcels of land that are currently owned by the City from Medium Density Residential to High <br />Density Residential in order to facilitate a multi-family housing development. In December <br />2021, the applicant was approved by the City Council to rezone the parcels from R-1, Low <br />Density Residential to R-3, High Density Residential, contingent upon a Comprehensive Plan <br />Amendment. <br />Reuter Walton, a twin cities developer, is proposing to build a two-phase 60-unit multi-family <br />apartment project on land north of Twin Lakes Boulevard currently owned by the city. The <br />proposed project is the first of two 60-unit buildings that could be developed on the land. The <br />project will feature a 3-story wood framed structure over one level of underground parking. The <br />project includes several high-end common area amenities including on-site management, fitness <br />center, community room and underground parking all at no additional cost to the residents. <br />The unit mix will be targeted towards working families with children and feature a majority of <br />two-and three-bedroom layouts. Units will have in unit washer and dryer, energy star appliances <br />and open floor plans. <br />The site is currently heavily wooded with mature trees. The buildings will sit more than 30 feet <br />from the north and south property lines and is proposed to be well screened. The City originally <br />purchased this land through tax forfeit in 1983 and is still currently vacant.