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3 <br /> <br />Density Chart based on May 28, 2016 Land Use Plan <br /> <br />Gross Area (acres) 372.24 <br />Wetlands & Water Bodies 45.21 <br />Public Parks & Open Space 65.24 <br />Arterial ROW 5.46 <br />Other (Undevelopable) 0.00 <br />Net Area (acres) 256.33 <br /># of Units 871 <br />Gross Density (units/acre) 2.34 <br />Net Density (units/acre) 3.40 <br /> <br />The site is referred to as Hardwood Creek in the City’s Comprehensive Plan and is guided for <br />mixed use that allows for both commercial and/or residential uses. It requires a residential <br />development at 3.0 to 4.5 dwelling units per net acre, with no less than 2/3 of the residential <br />area reserved for low density residential development. <br /> <br />The net density is 3.40 units per acre and over 80% of the site is reserved for low density <br />residential development. This is consistent with the Comprehensive Plan’s guided land use and <br />density. <br /> <br />PUD Final Plan/Final Plat <br /> <br />Watermark is anticipated to be a 10+ year buildout with multiple phases and plats of <br />development. In order to provide maximum PUD flexibility and adapt to changing market <br />demands, detailed civil, grading and landscaping plans and architectural design standards, floor <br />plans, elevations, exterior materials, styles, color packages and HOA documents will be <br />reviewed and approved with each PUD Final Plan/Final Plat. <br /> <br />One (1) Master PUD Development Agreement for the entire development and individual <br />Development Agreements with each PUD Final Plan/Final Plat phase of development will be <br />executed. One (1) Master HOA document and sub-HOA’s with each PUD Final Plan/Final <br />Plat phase of development will also be executed. <br /> <br />A land use application for each PUD Final Plan/Final Plat for Watermark shall be required. At <br />such time, the developer shall enter into a Development Contract and other documents as the <br />City deems necessary. <br /> <br />RECOMMENDATION <br /> <br />The Planning & Zoning Board held a public hearing on April 13, 2016 and continued the <br />hearing to the May 11, 2016 meeting. The Planning & Zoning Board voted 4-2 in favor of the <br />Comprehensive Plan Amendment, 6-0 in favor of the rezoning and 5-1 in favor of the PUD