07-28-1997 EDA - Laserfiche WebLink

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11111 Residential Significant opportunities exist for the development and redevelopment of various types of residential uses within Section 9: ,, PropertieIounds View EPA.PTW Investments and Pleasant Wood Apartments The EDA-owned property does not have direct access onto TH 10;and due to a median in County Road I adjacent the property, access to that roadway is limited, as well. As such, the site on its own is not suitable for high traffic generators such as office or commercial uses. The property's overall utility as a free-standing property is questionable in light of these traffic limitations. Consequently, the contribution of the EDA property to the vitality and character of Section 9 will not be significant unless it is combined with the vacant properties abutting on the west which are owned by PTW Investments. However, the PTW Investments property does not currently have access to TH 10. Therefore, any reasonable expectation for significant development of the EDA and PTW properties must rely upon shared access 'with Pleasant Wood Apartments. The recommended course of action to create new residential opportunities on the north side of the corridor while addressing the distressed aspects of the apartment complex is to: • Facilitate major renovation of Pleasant Wood, including interior and exterior rehabilitation and site improvements; • Secure townhome or other medium density residential configurations for the EDA/PTW site; and • Create a shared access point as indicated on the Preferred Alternative. It is important to recognize that Pleasant Wood Apartments representsa significant - investment as well as a notable revenue source for the City. It is in the best interest of all concerned that all of the properties between the Pleasant Wood and Eastwood Road be considered a single development/redevelopment site,not only for access purposes but so that current and future investments can be maintained. If Pleasant Wood is not improved and maintained, it will be difficult at best to secure uses for the EDA/PTW properties that will contribute positively to the character of the corridor. Properly: Jones, Duchesneau. Demeules. Enamel {Iocated south and east of Win Insurance) Input received at a variety of forums and meetings indicated thatsenior housing is 4) successful in the area at Silver Lake Point Apartments and that more is not only appropriate but is needed within Section 9. The Preferred Alternative recommends the siting of a higher-density senior residential facility just to the northwest of the wetland.