Request – Consideration of a Workforce Housing Agreement 

In exchange for increased building height (maximum 45 feet) and a reduction of 5 feet for the minimum street setback (20 feet to 15 feet), the applicant will reserve 10% of the total units for tenants making 80% Area Median Income (AMI) for 10 years.  An agreement between the City and KCG Saddlecreek, LP, for PILARE Apartments, will serve to enforce the set aside of 23 units at 80% AMI for 10 years (Exhibit A). Eligible tenants will submit income verification, and the owner will provide quarterly reports demonstrating compliance. The agreement requires $311,030 as a financial guarantee of performance. 

 

Project Background

Proposed Development

• The applicant is developing a 224 unit apartment complex at 2510 Bell Gin Rd.

Prior development approvals

• The 16.25 acre site at 2510 Bell Gin Rd is part of the Saddlecreek Planned Unit Development (PUD) that was rezoned in 2015 (Ordinance 2015-58). The base zoning of the site is Local Commercial (C-1) with an allowed multi-family use (maximum of 350 units).
• The Final Plat (Project Number: 2021-17-FP) with a minor deviation from the Preliminary Plat (PP-2017-007) was submitted on March 23, 2021. The application is to create two lots (one for ARCO and one for PILARE) at the site at 2510 Bell Gin Rd. The Final Plat is currently under review and had its most recent consideration by the Planning and Zoning Commission on August 17, 2021.
•  The Site Development Plan (Project Number: 2021-20-SDP) for ARCO & PILARE Apartments was submitted on April 19, 2021. The Site Development Plan is currently under review and had its most recent consideration by the Planning and Zoning Commission on August 17, 2021.

 

Workforce Housing Development Standards

The Workforce Housing Development standards were adopted on March 8, 2016. The standards were amended in 2017 to be consistent with other residential UDC updates at that time. The purpose of the standards are to encourage affordable housing for the workforce by allowing flexibility to the development standards and allowable housing types for projects that foster housing affordability. The dimensional standards for workforce housing developments include reduced lot size and setbacks and increased building height, units per building, and impervious cover. 

•  Maximum building height can be increased to 45 feet
•  Minimum street setback can be reduced from 20 to 15 feet
•  Workforce units are units available for those whose incomes are less than or equal to eighty percent (80%) of the area median family income (AMI) (as set by the Department of Housing and Urban Development – updated annually). The current AMI for Williamson County is $98,900, and 80% AMI is $79,100 for a family of four.

 

Workforce Housing Agreement 

 An agreement between the City and KCG Saddlecreek, LP, for PILARE Apartments will serve to enforce the set aside of 23 units at 80% AMI for 10 years in exchange for increased building height (maximum 45 feet) and a reduced minimum street setback (20 feet to 15 feet) (Exhibit A). Eligible tenants will submit income verification, and the owner will provide quarterly reports demonstrating compliance. The agreement requires $311,030 in fiscal surety for guarantee of performance. 

 

Approval Schedule

Following the approval of the Workforce Housing Agreement, the applicant can submit the Site Development Plan and upon meeting all other review requirements be approved by the Planning and Zoning Commission. Fiscal surety is needed for SDP approval.