The Hailey Planning and Zoning Commission will hold a public hearing at 5:30 p.m. today, Sept. 20, to decide whether to advance a planned-unit development application for a 12-unit townhome complex at 410 North River Street.
Georgia-based CK Property Group is planning to build 12 three-story single-family townhomes on the lot next to Silver River Residences. The 14,400-square-foot parcel is currently vacant, with “limited vegetation consisting of weeds and volunteer trees and shrubs,” according to a letter to the city from project representative Ben Semple of Rodney Evans & Partners.
All townhomes would have attached one-car garages, rooftop deck space and “tuck-under” parking spaces on an open ground floor. Parking would be accessed off a shared drive connecting to the existing alleyway to the northeast of the site.
To be built, the project requires waivers to minimum lots size, useable open space requirements and park space dedication. In exchange for the waivers, the applicant is proposing two deed-restricted townhouse units pegged to 100% of area median income, or AMI.
According to Semple, an offering at 100% AMI would help address some of the current housing concerns in the city.
“The proposed townhouse development will increase the availability of home ownership for individuals of all socio-economic levels, including those who qualify for community housing. Additionally, by adding more supply of housing to the market, home affordability should increase,” he stated.
The applicant team plans to give the city the first right of refusal to either purchase the units directly or to offer them to city employees.
“By way of example, a family of four could earn up to $75,000 to qualify at 100% of AMI. The units would be priced for sale at $375,061,” the Hailey Community Development Department stated. “Staff has considered with the applicant the alternative of three deed-restricted units at 120% of AMI. However, the sales price of the units at this income category would be $459,000 to $470,000.
“Staff did not feel this was the best solution for the community, and that two units at a sales price of $375,061 was the preferred alternative.”
To attend today’s P&Z meeting, visit https://www.gotomeet.me/CityofHaileyPZ or dial (571) 317-3122 and enter access code 506-287-589.