75C - PH - FIRST AND PACIFIC PROJECT

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America's Builder of the Year Olson First & Pacific Townhomes Project Narrative Olson proposes to develop this 2.47 acre site into a homeownership community that fits well within the context of the juxtaposed commercial corridor and residential neighborhood. Three - story for -sale townhomes are planned for the First & Pacific community which will feature five floor plans all with attached two -car garages, ranging from 1,302 to 2,108 square feet of living space (2 BD /2.5 BA — 3 BD /3 BA). The buildings will be designed with Spanish architecture with differentiated elements and color themes to enhance the character of this community. The building and plan layout will create a defined street presence for the project, while providing private spaces for the homeowners balanced with promoting interaction with the public realm through view corridors along First Street and direct pedestrian access to Pacific Avenue and Walnut Street. This community offers a variety of private and common open space areas tied together with pedestrian pathways. All units offer either two or three bedrooms, each with a private patio and /or deck. A community building with an outside plaza area is provided for the homeowners that will be approximately 850 square feet in size which will be a focal point for the residents. A series of courtyards, greens spaces and green paths throughout the project connect the community to the courtyards and community facility which serve as central gathering places. Our project is considered a "pipeline" project under the Inclusionary Housing Ordinance and is eligible to utilize the provisions of the prior Ordinance. Per the Ordinance, we are required to provide 9.3 units for sale to qualifying moderate income buyers (households earning up to 120% of the median). We are proposing to provide 9 units on -site and pay the fractional in lieu fee for the 0.3 unit (estimated by City at apex, $25,000). Based on the Ordinance and discussions with the Housing Department, we are proposing to reasonably disperse the affordable homes through -out the building complexes that house the market rate units and include four two - bedroom units and five three - bedroom units. It is a relatively small site and the unit types vary slightly so the specific location of each affordable unit will be comparable. Additionally, they will have the same exterior appearance and same access to amenities as the market rate units. 75C -63