The subject 7.37-acre property is generally located north of Ridgeview Drive and east of Watters Road and is currently zoned Planned Development PD No. 92 Corridor Commercial CC. The applicant is proposing to develop a 470 unit, four-story Urban Residential building and is pursuing a Planned Development Amendment to request deviations from open space regulations among other development requirements.

The applicant is requesting a reduction in the on-site open space requirements. The Allen Land Development Code requires one acre of open space for every 75 dwelling units, or 6.26 acres of open space within the subject property. The Open Space Plan shows 2.3± acres of open space to be provide on the property. To offset the 3.9+/- acre shortage of open space provided on site, the developer will implement off-site improvements to a pond and trail head site on City-owned property located approximately 600± feet east of the subject property.  This proposed agreement provides for the developer to fund, design  and construct open space improvements at the pond site.  These will include deepening and reshaping the pond and adding amenities such as benches, a bike rack and drinking fountain, up-lighting of trees, a trail connection to Ridgeview Drive and a lighted floating pond aerator and fountain.  The area surrounding the pond will be regraded to improve maintenance efficiency.  The agreement stipulates that the open space improvements will be completed prior the developer requesting their first certificate of occupancy for the proposed residential building.

There is no budgetary impact.

Staff recommends that the City Council authorize the City Manager to execute an agreement to allow DALCOR Holdings, LLC, to construct open space improvements on city property at Ridgeview Drive and Rowlett Creek.

I make a motion to authorize the City Manager to execute an agreement to allow DALCOR Holdings, LLC, to construct open space improvements on city property at Ridgeview Drive and Rowlett Creek.