Edera at Coconut Point Edera at Coconut Point Working Team 13TH - - PowerPoint PPT Presentation
Edera at Coconut Point Edera at Coconut Point Working Team 13TH FLOOR DEVELOPER JOE MCHARRIS ALBERT CORDOVES ARCHITECTURE McHarris Planning & Design Corwil Architects LANDSCAPE GREG DISERIO ARCHITECTURE David M. Jones, Jr. &
ARCHITECTURE LANDSCAPE ARCHITECTURE LAND USE TRANSPORTATION ENGINEERING & PLANNING CONSULTANT TEAM JOE MCHARRIS McHarris Planning & Design ALBERT CORDOVES Corwil Architects GREG DISERIO David M. Jones, Jr. & Associates RICK BRYLANSKI Hole Montes NEALE MONTGOMERY Pavese Law Firm TED TREESH TR Transportation PAULA N. C. MCMICHAEL Hole Montes DEVELOPER 13TH FLOOR
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Coconut Point: Aerial
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Coconut Point Mitigation Elements
improvements totaling $14,600,000 (2002 dollars) which included 4 lane Sandy Lane (Via Coconut) from Corkscrew Road to Pelican Colony Blvd Extension and 4 lane Pelican Colony Blvd Extension from US 41 to Sandy Lane (Via Coconut).
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Current Approvals
Impact (DRI) as part of the overall 482 ac Coconut Point project
management and environmental design / permits
Coconut and Via Villagio
planned / constructed for site in 2004 - 2006
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BUILDING SEPARATION
PER CODE
INGRESS/ EGRESS
1 MEANS OF INGRESS/EGRESS
PARKING
TOTAL OF 396 SPACES
HEIGHT
45 FEET
USE
MULTIFAMILY RESIDENTIAL BUILDING SEPARATION WILL BE HALF THE SUM OF THE BUILDING HEIGHTS BUT NOT LESS THAN 20 FEET REQUEST APPROVAL TO ALLOW 1 MEANS OF INGRESS/EGRESS with EMERGENCY ACCESS PARKING DEVIATION LIMITED TO NO ADDITIONAL PARKING SPACES FOR RECREATIONAL FACILITIES – REDUCTION OF
REQUEST MAXIMUM BUILDING HEIGHT ALLOWED WITHIN TRACT -1A TO BE 45 FEET ALLOW 180 “MULTI-FAMILY RESIDENTIAL” UNITS WITHIN TRACT- 1A
SOLID WASTE & RECYCLING FACILITIES
ALTERNATIVE DESIGN FOUR COLLECTION AREAS WITHIN EACH BUILDING WITH PICKUP BETWEEN BUILDINGS
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180 multifamily units 2 spaces/unit 360 Guest parking 10% of required 36 3,500 SF of Indoor Recreational Facilities 4 per 1,000 SF 14 Total Required 410 Total Provided 396
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Consistency with the Comprehensive Plan POLICY 1.1.4: The Urban Community areas … future development in this category encouraged to be developed as a mixed-use … POLICY 4.2.1: The Village will maintain an overlay … identifying locations outside the Village Center Area that are also desirable for mixed use patterns … OBJECTIVE 4.3: The Mixed Use Overlay … Mixed Use Planned Development (MPD) zoning … will be allowed to use the area of commercial, office, light industrial, natural water bodies and
OBJECTIVE 2.1: DEVELOPMENT LOCATION. Contiguous and compact growth patterns will be promoted … POLICY 2.2.1: Rezonings and development-of-regional-impact proposals will be evaluated as to the availability and proximity of … public facilities … POLICY 2.12.3: Future development within the Intensive Development, Central Urban, and Urban Community future land use categories is strongly encouraged to be … mixed use … POLICY 5.1.3: During the rezoning process, direct high-density residential developments to locations that are near employment and shopping centers; are close to parks and schools; and are accessible to mass transit and bicycle facilities.
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Consistency with the Comprehensive Plan GOAL 19: ESTERO COMMUNITY PLAN. Promote the development of Estero as a community with a unique quality of life, distinct character, and diverse housing, economic, recreational, and social opportunities … OBJECTIVE 19.3: RESIDENTIAL NEIGHBORHOODS. Support Estero's quality of life … through the development of diverse … residential neighborhoods, and … by supporting a variety of housing types … POLICY 158.1.9: … encourage a diverse mix of housing types, sizes, prices, and rents by maintaining mixed use land use categories ... POLICY 4.1.1: Development designs will be … well integrated, properly oriented … POLICY 4.2.6: Staff will work with communities … to explain the benefits and address concerns related to mixed use/higher density developments … STANDARD 11.1: WATER & STANDARD 11.2 SEWER
connect to a public water system …
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Estero Housing Study
couples, singles, and retirees. The availability of quality rental housing is important for a community looking to provide workforce housing. This is an important factor for businesses looking to relocate or establish a presence in local markets.
in contrast to the “large, gated single-family home communities”. From their summary: …The physical plan
use (greater convenience and reduction in the cost of services), expanded housing choice (responding to demographically-driven lifestyle preferences), and reduced automobile reliance (enhanced mobility choice)…
Estero had a shortage of both rental and senior housing. During the housing boom of the early 2000’s Estero rental-only housing was converted to condominiums.
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Estero Housing Study
annual housing costs exceeding 30% of gross money income to be “Cost Burdened” and exceeding 50% to be “Severely Cost Burdened”.
to 50% of their income on housing cost (Cost Burdened) and 27% of renter households currently spend greater than 50% of household income on housing cost (Severely Cost Burdened). A majority (56%) of Village renter households are either Cost Burdened or Severely Cost Burdened.
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Estero Housing Study
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Estero Housing Study
The pricing for the two 2016-built communities are nearly identical, while the pricing for Estero Woods Village likely reflects the impact of both mid-1970’s design and physical condition. Of these three traditional complexes, the two 2016-built communities have a mean rent of $1,553, which exceeds the affordability level of at least 36% of households in the Village. And nd eve ven the he lowest offe fering exceeds the he affordabi abili lity le level fo for 23% of house seho holds whose se housi sing cost affor
abili lity le level is les less than an $1,000 per er month th.
Please note, that this likely underestimates the impact, as the HUD affordability metric includes rent and utilities.
Ve Very high occu ccupa pancy demon
ere is still ll additi tional deman and fo for this property type.
Type Name Mean R n Rent nt Note tes Year B Built lt Student The Reef $2,820 4 bed student rooms ($705/bed) 2016 Student Coastal Village $2,475 4 bed student rooms ($619/bed) 2004 Traditional Springs at Estero $1,500 Studio through 3 bed units 2016 Traditional Courtyards at Estero $1,605 1 bed through 3 bed units 2016 Traditional Estero Woods Village $1,212 1 bed through 3 bed units 1976
<$1,000 $1,000-$1,250 7 $1,250-$1,500 13 $1,500-$1,850 21 $1,850-$2,000 19 >$2,000 75 Active Rental Units by Listed Rent (SWFL MLS '15-'16)
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Estero Housing Study
Of the 23% of Village households that can afford less than $1,000 monthly housing expense, only 3% of the Village detached housing is available for them. Of the next group, the 13% of households that can afford less than $1,250 per month, roughly 8% of the market is available to them (combining the <$250k & up to $300k listings).
Please note, that this likely underestimates the impact, as the HUD affordability metric includes utilities, fees, and taxes. These buyers would also need to accumulate the down payment to secure a mortgage, which would be as much as $70,000 under our assumptions.
Pu Purchase affordabi bili lity is be becomin ing a majo jor issue within in the Vi Villag lage of
tero.
<$250k 8 $300k 14 $350k 34 $400k 54 $450k 33 $500k 31 >$500k 115 Active Listings
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Estero Housing Study
Boo
Postal Wo Worke kers, Real al Estate te Age gent nts, Financial Servic ice Age gent nts, Nurses, The herapists, s, Pha harma macist sts, Carpente ters, Electricians, Roof
hers, s, Librar arian ans, Accounta tants ts, Appr ppraisers, Loa
By an and la large, the Top 10 occu ccupa pations in in the Ca Cape Co Coral-Fo Fort Mye yers MS MSA are middle incom
jobs whose deman ands fo for housing opportunities es ar are goin
to best st be be met by by moderat ately priced ed housi sing option
sev even en (7) active ve rentals als below $1,250/mon
no affordab able le op
ions
nly 8% of
he li listings (22 22) are affordab able le Essentially lly, ba based upon
he 30% HUD UD th thres eshold, housi sing in in the he Villa llage of Este tero is not
for the he median an house seho hold in in the he Ca Cape Co Coral-Fo Fort My Myers MS MSA. It It is our opin inion
hat the he pr provision of low
te incom
housing
llenge within in the he Villag llage and nd serves as an obs bstacle le to develo loping a well ll-rounded commu munity consisting of
hy distr tributi tion of
ld demographics cs.
Annua nnual M Median W n Wage Mont nthly I Inc ncome 30% o
Gross M Monthly I Income
$47,908.00 $3,992.33 $1,197.70 Home A Affordability f for t the T Top 1 10 J Job C Categories i in t the C Cape C Coral-Fort M Myers M MSA
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Estero Housing Study
Multifamily Rental Housing Anti-apartment stakeholders tend to rely on similar arguments to keep multifamily rental housing out of their communities. These claims include:.
crime or other anti-social behavior.
more infrastructure support
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Estero Housing Study
Multifamily Rental Housing …we think the available research is fairly strong that multifamily rental housing: (1) does not impose greater costs on local governments; (2) does it [sic] increase traffic and parking problems; (3) when well-designed and appropriate to the neighborhood, does not reduce (and may even enhance) property values; and (4) does not inherently attract residents who are less neighborly or more apt to engage in (or attract) criminal activity.
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Estero Housing Study
current peer communities, as well as aspirational comparison communities.
2015 Harry/Spikowski study targets
Geography County
Estimate) Total Housing Units (2014) 2+ units Multifamily Ratio
Fort Myers Beach town, Lee 6807 10060 6693 66.53% Fort Myers city, Florida Lee 70873 35880 19171 53.43% Sanibel city, Florida Lee 7051 8537 3828 44.84% Bonita Springs city, Florida Lee 49230 32350 10155 31.39% Estero CDP, Florida Lee 22649 19506 5744 29.45% Lee County, Florida
372769 103507 27.77% Cape Coral city, Florida Lee 169755 76834 14506 18.88% Lehigh Acres CDP, Florida Lee 106747 38801 3301 8.51%
Geography County
Estimate) Total Housing Units (2014) 2+ units Multifamily Ratio
Orlando city, Florida (Baldwin Park) Orange 263074 122286 69119 56.52% Coral Gables city, Florida (Hospital Neighborhood) Dade 50895 20634 8328 40.36% Estero CDP, Florida Lee 22649 19506 5744 29.45%
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Estero Housing Study
multi-family housing has a direct correlation with income and community demographics.
Top 9 Florida communities with the highest median household income, plus Sarasota, Marco Island, and Captiva
Geography County
Estimate) Total Housing Units (2014) 2+ units Multifamily Ratio Median Household Income
Key Biscayne village, Florida Dade 12774 7242 5534 76.42% $121,023 Palm Beach town, Florida Palm Beach 8344 9553 6613 69.22% $105,700 Naples city, Florida Collier 20943 18785 11950 63.61% $80,571 Marco Island city, Florida Collier 16921 18473 10924 59.13% $73,031 Sanibel city, Florida Lee 7051 8537 3828 44.84% $97,788 Sarasota city, Florida Sarasota 54221 28890 12678 43.88% $41,670 Coral Gables city, Florida Dade 50895 20634 8328 40.36% $93,590 Captiva CDP, Florida Lee 154 1486 599 40.31% $93,250 Manalapan town, Florida Palm Beach 231 337 105 31.16% $203,750 Estero CDP, Florida Lee 22649 19506 5744 29.45% $66,439 Pinecrest village, Florida Dade 18914 6614 1465 22.15% $122,235 Jupiter Island town, Florida Martin 630 715 28 3.92% $250,000+ Golden Beach town, Florida Dade 653 366 3 0.82% $136,875
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Estero Housing Study
Lastly, we have considered the existing multifamily housing stock and what is proposed. The Census estimate for 2014 would only include two communities:
148 units Unreported
200 units 97.5% occupancy Completed since that time are several new apartment complexes:
260 units 100% occupancy
168 units 100% occupancy
136 units 90% occupancy Proposed currently are several additional projects:
60 units
203 units
297 units
455 units
200 units Th The co compl pleted and pr propo posed units since 201 014 to total 1,779 units, s, which if inclu luded with th the he 201 014 housi sing sto tock (2,127 27 units to total) wo would still ll on
be 9.8% of the he who hole. And this would be an inaccurately high percentage, as the total housing stock number would need to also be adjusted for all 1-unit housing completed and proposed since 2014.
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Estero Housing Study
The actual number of units for each Village of Estero property type in 2015 can be gleaned by reviewing the Lee County Property Appraiser’s data (as of January 1, 2016):
*Note: DOR Code 04 includes 1-unit Attached properties, such as Lighthouse Bay Villas at The Brooks
The final multi-family line shows the total units associated with Estero Woods Village, Coastal Village, and Springs at Estero. Taking these numbers and adding the he additi tional pr propo posed 1,779 units wo would increa ease the true mult ltifamily ly units percentag age to on
he who hole, but again this would be an inaccurately high percentage as discussed before. Please note, earlier studies of Estero multi-family supply characteristics have included the development known as Estero Oaks, which totals 280 units. However, this development is not located within the Village boundaries and has been excluded from the forgoing analysis. If included with the 1,779 “new” units, it would obviously increase the percentages up roughly 1 percentage point, but this would not alter our conclusions.
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Estero Housing Study
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