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STAFF REPORT <br /> DATE: May 16, 1995 <br /> TO: Planning Commission <br /> FROM: Kim Moore-S}'kes, Management Assistant <br /> ITEM: PETITION FOR REZONING OF PARCEL FROM R-2, <br /> TWO FAMILY DISTRICT TO R-3, TOWNHOUSE <br /> DISTRICT -- MAKO, INC./OLSON PROPERTIES ON <br /> • OLD HIGHWAY 8 <br /> BACKGROUND <br /> Arnold Development has submitted a petition for rezoning of 2938 Old Highway 8, 3004 <br /> Old Highway 8 and 2926/2930 Old Highway 8 to an R-4 zoning district. These properties <br /> were originally known as the Mako Inc./Olson properties and the residential structures <br /> were converted to rental units or built as rental units before the area was zoned. <br /> Mr. Arnold Gregory, Arnold Development, approached the City with a development plan <br /> for the area, whereby he would purchase the properties, demolish the existing structures, <br /> combine the three parcels and construct 18 owner-occupied townhomes on the site. It is <br /> anticipated that these townhomes will sell for approximately $135,000 to $150,000. <br /> Mr. Gregory's original site plan was developed for an R-4 zoning because it was <br /> determined to be more appropriate considering the triangular configuration and the sloping <br /> topography of the properties. He developed a townhouse plan that had four 4-unit <br /> buildings and one 2-unit building to be sited on the narrower portion of the property. <br /> Rezoning at R-3 would not allow for a building with less than three units. <br /> Since submitting his rezoning application, there was concern voiced by the neighbors <br /> regarding rezoning the property to an R-4. Many of these neighbors felt that if this <br /> property is zoned R-4, and the project feel through, that an R-4 designation would allow <br /> for the building of apartment buildings. Mr. Gregory and City staff have suggested that <br /> because this is a prime piece of real estate property, it would be too expensive to develop <br /> into an apartment complex. Should an apartment be proposed for this site, the proposed <br /> complex would have to have up to 68 apartment units and at minimum six floors to make <br /> the project economically viable. This project would not be approved by the City because <br /> it exceeds the height limit of three stories. <br /> Despite this argument and out of consideration of the neighbors, Mr. Gregory is requesting <br /> that the Planning Commission consider approving an R-3 designation rather than the <br /> original request to rezone the property-to an R-4. The City Attorney has indicated to <br />