01/21/2004 Env Bd Packet - Laserfiche WebLink

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Planning & Zoning Board Legacy at Woods Edge December 12, 2003 Development, Ownership and Management The Hartford Group will be the Legacy at Woods Edge master developer, and will contract with sub - developers to develop phases of the project. Sub - developers may be affiliated Hartford entities. The rental housing is proposed to be developed and owned by affiliates of the Hartford Group. The townhome and commercial locations are proposed to be developed distinctly by Hartford affiliates or separate sub- developers. The sub - developers for Legacy at Woods Edge have not been finalized at this time. Residences are proposed to be market -rate, with up to a twenty percent affordable component included. The Hartford Group's market studies will determine initial pricing, with flexibility to adjust to market changes. The Hartford may retain ownership, development, and management, or contract for development and management, or sell parcels. Market Analysis The proposed project represents the maximum intensity of development, due to physical and transportation constraints, that can be accommodated on the site. At this time the unknown is whether the market will support this level of development. The Hartford Group has commissioned a study which should be completed in the short term. However it should be noted that the majority of commercial square footage is contained within multiple story buildings. A reduction in the amount of commercial square footage, based on market availability would not necessarily change the overall layout of the site. Shoreland Requirements The Rice Creek Chain of Lakes Regional Park boundary separates the project area from the OHWL of George Watch Lake and Marshan Lake by approximately 800 -feet and 250 -feet, respectively. Given the distance separation and forested nature of the regional park property, no visual impact to the public water bodies is anticipated. Additionally, there will be no disturbance of Shore Impact Zones. Both George Watch Lake and Marshan Lake are classified as Natural Environment Lakes. Impervious surface coverage of lots within the Shoreland District of a Natural Environment Lake cannot exceed 60% for commercial/industrial development and 35% for multi - family residential. The proposed impervious surface coverage within the Marshan Lake Shoreland District is classified as commercial development and has been calculated to be approximately 43% of the total area within the Shoreland District boundary. No impervious surfaces are proposed within the designated Shoreland District of George Watch Lake. The height of structures within the Shoreland Districts shall be limited to thirty -six feet. 10