[bouldercouncilhotline] Hotline: CAC questions on Eastpointe Apartments

[cmosupport at bouldercolorado.gov]

Sender: McLaughlin, Elaine

Sender: McLaughlin, Elaine



Dear Mayor and Council Members,



At the Council Agenda Committee (CAC) on Monday morning, Nov. 7, 2016, council members had questions for staff regarding the 1550 Eisenhower Drive (Eastpointe Apartments) Concept Plan to be discussed on Nov. 11th.  The following information is provided to address specific questions. We look forward to discussion of the Concept Plan tomorrow evening at City Council.

1)      If the site redevelops, will rents increase?

The current rents at Eastpointe are market related, and with no covenants or restrictions will likely go up over time.   If the site were to redevelop, rents would remain market and would be able to increase according to market conditions.  Looking at projects similar to that proposed in the redevelopment, we expect that the total cost of housing (rents and utilities) would increase roughly 10 percent over current rents.  Through a redevelopment of the site, an affordable housing requirement of 20% would be triggered.  This would create 47 affordable units that would serve households at 60% of the area median income which would be restricted in perpetuity.  If the site is renovated and not redeveloped, the Inclusionary Housing Ordinance would not be triggered and no permanently affordable units would be required.

2)      Will the existing buildings be required to comply with SmartRegs at some point?

As an existing licensed rental property, Eastpointe is required to comply with the SmartRegs program by Dec. 31, 2018.  Currently, the Eastpointe apartment complex (consisting of seven buildings, totaling 140 units) has had a sampling of units inspected for SmartRegs compliance.  Of those inspected, roughly half were deemed "SmartRegs compliant" and the others needed improvements equivalent to 5-15 points to achieve a passing SmartRegs score.

3)      If the site redevelops, what building efficiency standards apply?

If the applicant proposes to remodel or redevelop the property they would be subject to the building permit process which triggers the requirements of the adopted energy code.  Currently the energy code requires new and renovated projects to meet or exceed a 30% above the 2012 International Energy Conservation Code requirement.

Feel free to provide staff with any further questions.

Kind regards-
Elaine
Elaine McLaughlin
Senior Planner
[Planning,%20Housing%2]
ph.    303-441-4130
mclaughline at bouldercolorado.gov<mailto:driskelld at bouldercolorado.gov>
Department of Planning, Housing + Sustainability
1739 Broadway | PO Box 791 | Boulder, CO 80306
Bouldercolorado.gov<http://www.bouldercolorado.gov/>
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