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7 <br />The net density is 3.39 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 <br />use and density. <br /> <br />Open space makes up 39% of the Watermark development with 67 acres of wetlands, <br />lakes and storm ponds and 77 acres of parks and open space. Of the 706 single family <br />lots, 357 of them (50%) abut open space. <br /> <br />Watermark meets the land use goals by developing a unified master planned community <br />with high amenities and aesthetics and improved natural resources. As documented in <br />this staff report, policy objectives of achieving public values are met by integrating the <br />stormwater conveyance systems, wetland restoration and open space areas and trails into <br />a multi-functional greenway corridor. The master planned development implements the <br />Resource Management Plan, provides life-cycle housing, promotes a mixed use of <br />housing products and commercial/pedestrian connectivity and diversifies the city’s tax <br />base <br /> <br />Housing Plan <br /> <br />Goal #1 of the Housing Plan is to ensure housing development is compatible with <br />existing and adjacent land uses and provides accessibility to key community features and <br />natural resources. Policies include linking trails to parks and lakes and ensuring <br />commercial and mixed-use areas are appropriately dispersed throughout the city. <br />Watermark is compatible with the existing adjacent residential and commercial land uses. <br />Trails and sidewalk link the development to parks and commercial development. <br /> <br />Goal #2 is to improve availability of affordable and life-cycle housing. Watermark <br />provides a variety of market driven housing products and styles appealing to entry-level <br />home buyers as well as aging populations. The proposed townhomes and single level <br />living products appeal to both younger and older buyers. Homeowner associations will <br />maintain the townhome neighborhood as well as some of the 55’ single family <br />neighborhoods. <br /> <br />Economic Development <br /> <br />Goal #1 of the Economic Development Plan is to expand and diversify the city’s tax base <br />by encouraging mixed-use and nodal development to lessen the tax burden on residential <br />properties. The Comprehensive Plan provides for an 80/20 mix of residential to <br />commercial development on this site. Staff has analyzed the commercial component with <br />brokers, commercial developers and an economic development specialist and they all <br />concur that this site is not a preferred location for commercial development. During the <br />concept review process the City Council concurred the commercial component would not <br />be a necessary component of the development. <br />