Dan Hoff's Adriatica Update

Zoning Case:

This week, I met with Mr. Blackard (twice) in order to better understand the progress of construction in Adriatica.  I learned that within the next 60-90 days, he anticipates filing a zoning case with the City of McKinney, requesting modifications to current zoning.

I took notes as he spoke and summarize those notes below in the 'what' and 'why' regarding this zoning request.  My notes cannot capture the detail of the discussion, so he has agreed to address homeowners in an open 'town hall' forum.  I agreed to coordinate that open meeting and will advise you of date/time/location as quickly as it is set.

What
- Allow some rooftops in the middle of Adriatica to go from 50 to 70 feet.  This will allow for a more pleasing overall roofline for all of Adriatica.  This will also accommodate more residential units, addressed below.
- Allow two pedestrian bridges over public roadways in the heart of Adriatica (Mediterranean Dr & Adriatic Pkwy).
- Add Farmers Market uses within the list of permitted uses.
- Increase the permitted number of condominium/loft and townhouse residential units from 285 to 700.  This includes 250 age-restricted (55 years and older) and 400 typical residences.
- Allow some additional number of residential units on the ground floor of certain buildings (particularly for age-restricted units).
- Reduce the amount of commercial construction required prior to the building of residential construction.
- Allow off-site signage for Farmers Market

Why
- Since early-2009, financing has been real difficult to find and the terms have been very unfavorable to borrowers.  The US government now has a program that guarantees loans for multi-family construction.  This is part of the 'Obama jobs program.'
- In McKinney, 'multi-family' is defined as residential construction for other than single-family units.  This includes apartments, condos, lofts, etc., whether owned, leased or rented.
- Adriatica construction must begin moving at a faster pace and this can be achieved with the government guaranteed loans.  All multi-family units will be 'market rate' (actually above market rate).  The government secured financing is for developer/builder and not available to purchasers of the residential units.
- All multi-family residential units within Adriatica will be individually metered for utilities and planned for purchase.  However, in the near-term, a number of units will be available for lease.
- Recent studies indicate that the previously planned commercial construction exceeds what can be supported by the population in Adriatica's study area.
- The success of this Village is dependent on life and activity within the village.

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