$10,490,000

CDMP /Zoning application ALREADY APPROVED FOR HIGH DENSITY APARTMENT HOUSING DISTRICT; RU-4 MAXIMUM DENSITY PERMITTED (50 DU/ACRE). Site plan consists of six (6) multi-family apt blds, 84 UNITS (1BD)/164 UNITS (2BD), that are 3-story height, 248 workforce housing dwelling units arrayed around the periphery of the property, 370 surface parking spaces in the center, amenities such as a swimming pool, playground, pedestrian walking paths, mail kiosks, bicycle racks and landscaped common open areas. The site plan also depicts the dedication of SW 125 Ave and SW 236 Street which provide public access to the site. The development will have two ingress-egress vehicular and pedestrian access along SW 125 Avenue and SW 236 Street. With the re-designation to Medium-High Density residential, it would permit a maximum of 60 dwelling units per gross acre, allowing the 7.27+/- gross acre subject site to be developed with a maximum of 436 dwelling units. Additionally, with application of the 25% density bonus allowed under the Density Bonus Programs for Affordable/Workforce Housing provisions of the CDMP, the property could be developed with a up to a maximum of 545 dwelling units. RU-4, High Density Apartment House District, allows development at a maximum of 50 units per net acre, and approval of the rezoning could allow for development of the 6.49+/-net acres of up to a maximum of 324 dwelling units, which is well within the maximum density threshold allowed under the CDMP. Property is located close to Lennar Homes Developments, minutes from the Cutler Ridge Metropolitan Center District, Southland Mall, Wal-Mart Supercenter, Target, Home Depot and Area Schools.