A Utah developer wants to build a 300-unit residential development on a roughly 15-acre plot of land near West 120th Avenue and North Perry Street, though Broomfield City Council and community members raised concerns during the development’s concept review.
Wasatch Residential Group, out of Salt Lake City, proposed the multi-family development that would consist of 10 rental townhomes and 290 apartments along with a small commercial corner.
The 290 apartments would be divided among five 4-story buildings and would include 135 one-bedroom units, 140 two-bedroom units and 25 three-bedroom units. The council memo shows three of the buildings would sit north of the Nissen Channel, which runs through the property, and two would sit on the southern end of the land, fronting West 120th Avenue. The developers also proposed 5,000 square feet in freestanding commercial space adjacent to the intersection of West 120th Avenue and North Perry Street.
During public comment in the Nov. 30 study session, residents from the bordering Brandywine neighborhood voiced concerns about additional traffic, the wildlife that lives on the land and the building heights blocking views. The Council was concerned about the lack of affordable housing and no for-sale units, and the nearly $200,000 estimated in lost city and county revenue each year that would result from the build.
The northern portion of the land is zoned Planned Unit Development and has approvals for 144 multi-family residential units. The southern parcel is zoned B-2, “which allows multiple-family dwelling when located in a vertically stacked mixed-use development when processed as a PUD plan,” the project’s webpage states. If the development moves forward, the southern parcel would have to be rezoned to Planned Unit Development.
Because the southern portion is zoned B-2 and was anticipated to be developed for commercial use, the proposal would reduce the expenditures to revenues ratio in the Long Range Financial Plan. Preliminary estimates indicate a reduction in projected revenue at build-out of $191,865 annually, at minimum.
“Is a $200,000 a year hit to the city’s tax base for rent units worth the conversion? I personally don’t think so,” Council member William Lindstedt said during the concept review. “I would love to see you guys go back to the drawing board with our city staff and try to find something more in line with what the neighbors want and where we’re not at a $200,000 a year hit to our tax base for for-rent units.”
Broomfield’s code requires residential developments marketed as rentals to pay an inclusionary housing fee equal to 20% of the final unit count, calculated using the proportionate share of unit sizes within the overall development, the project website notes. Based on preliminary analysis calculated on the number of units, the applicant would be required to pay $1,818,250.
“The Affordable Housing Advisory Committee requested the development team to further investigate potential funding sources to try to bring units, in part or whole, into the project,” the memo notes.
Mayor Pro Tem Stan Jezierski reminded the community that while he too would love to see the plot of land remain open space, like many residents advocated for during public comment, it’s not the city’s land to decide. The property is owned by Mountain West Capital Partners, LLC and Avenue 120 Holdings, LLC.
A large portion of the plot of land lies within the 100 year floodplain and the floodway. Broomfield and the Mile High Flood District have a joint project planned that would make channel improvements to the Nissen Channel, which is currently in design and anticipated to be completed within the next five years, the council memo reads. The project would ultimately revise the floodplain map and remove the majority of the site from the 100 year floodplain and the floodway.
Public records show that in November 2011 Mountain States Baptist Church and Wasatch Advantage Group presented a concept review for a residential development on the northern parcel of the property, and in February 2012 owners Mountain States Baptist Church and 120th & Perry, LLC and applicant Wasatch Advantage Group presented a concept review for a multifamily residential development on the two parcels in the project area.No formal action is required during a concept review. A formal review of the project will be held next, followed by a public hearing. The Council will ultimately approve or deny the project. To visit the project’s website, visit broomfieldvoice/com/avenue120.