Common use of Residential Development Clause in Contracts

Residential Development. Residential uses authorized for Planning Area 1 include up to 160 multi-family rental apartment units, in a mix of studios, 1-, 2- or 3-bedroom units with a maximum average size of 835 square feet, constructed on floors 2 and above in three buildings in the general location designated on Sheets SP-2 – SP-4 of the approved PCI Plan site plan, and subject to the affordable housing requirements of Section 7 of this Development Agreement. Short-term rental of residential units for a term of less than six (6) months), whether by Owner, tenant or via third-party services such as AirBnb, VRBO or similar, is prohibited. Parking for rental residential units shall be provided at a ratio of one (1) parking space per bedroom; for example, one (1) space shall be allocated for each 1-bedroom unit, and 2 parking spaces per each 2- bedroom unit; provided however that this required parking ratio applies only to the extent that the parking can be accommodated in the surface parking areas shown on Sheets consistent with development standards for surface parking lots and without reducing parking for other uses below the quantity required by the SMC.

Residential Development. Residential uses authorized for Planning Area 1 include up to 160 multi-family rental apartment units, in a mix of studios, 1-, 2- or 3-bedroom units with a maximum average size of 835 square feet, constructed on floors 2 and above two through five (2-5) in three buildings in the general location designated on Sheets SP-2 – SP-4 of the approved PCI Plan site plan, and subject to the affordable housing requirements of Section 7 of this Development Agreement. Short-term rental of residential units for a term of less than six (6) months), whether by Owner, tenant or via third-party services such as AirBnb, VRBO or similar, is prohibited. Parking for rental residential units shall be provided at a ratio of one (1) parking space per bedroom; for example, one (1) space shall be allocated for each 1-bedroom unit, and 2 parking spaces per each 2- bedroom unit; provided however that this required parking ratio applies only to the extent that the parking can be accommodated in the surface parking areas shown on Sheets consistent with development standards for surface parking lots and without reducing parking for other uses below the quantity required by the SMC.