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April 21, 2020 Page 2 Use / Zoning: East: Retail Pad Sites – Coffee Shop/Gas Station zoned PUD South: Railroad, then Commercial/Industrial zoned L-I, Light Industrial West: Multiple Family Residential zoned PUD Deadline for Agency Application Complete Date: April 6, 2020 Action: 120 Days: August 4, 2020 ANALYSIS 1. Background In December of 2019, the City Council adopted an amendment to the Silver Lake Village Planned Unit Development zoning district approving the redevelopment of the Walmart site as a 496 unit multiple family residential project. The applicant proposed a two-phase multiple family residential project, including a community building and significant site improvements. At the time of the PUD approval, the developer anticipated development on the existing single parcel, legally described as Lot 2, Silver Lake Village. The PUD also included the Salo Pond open space, Outlot B of Silver Lake Village. The development parcels in question are shown on the zoning map below, and are 13 acres in total area. Subsequent to that approval, the applicant has decided to seek a subdivision of the parcel to separate the first phase (which includes the north building of 258 units and the community building, along with associated underground and surface parking) from the second phase, which includes the south building of 238 units, along with additional parking and site improvements. Such subdivisions of multi-phase projects are not uncommon, and often undertaken to separate financing of current construction from future aspects of the project. The applicant is not proposing any long-term changes to the approved PUD, and the terms of the PUD would continue to apply to both phases and parcels. What will change are some of the interim site improvements – although those changes are the result of construction phasing more than a result of the plat. The applicant is seeking to modify emergency vehicle response on the property prior to the second phase of the building, holding more permanent pavement improvements on the south parcel until the second phase is underway. As noted above, the Salo Pond outlot (Outlot B of Silver Lake Village) will not change in boundary or improvements from its original plat and PUD improvements. As such, the proposed subdivision affects only the apartment site, splitting the existing single parcel into two separate development parcels. The site location is shown on the zoning map below.