Title
Receive a status update on current development activity on the East Garrison development project.
Report
RECOMMENDATION:
Staff recommends that the Fort Ord Committee receive a status update on current development activity on the East Garrison development project.
DISCUSSION:
A total of 246 market rate homes have closed escrow at East Garrison through the second quarter of this year (June 30, 2016), and sixty (60) very low- and low-income rental apartments are built and occupied. A summary of current activities in each of the three project phases is presented below.
Phase 1 Housing Construction:
* Sale from UCP East Garrison LLC (the master developer) to Benchmark Communities LLC (the affiliate homebuilder) of all 272 lots for construction of market-rate homes in Phase 1 has been completed. To date (September 20) County RMA-Building Services has issued 244 building permits for market-rate SFRs in Phase 1. 216 houses have received final inspection (including the 12 model units).
* Sale from UCP East Garrison LLC (the master developer) to Benchmark Communities LLC (the affiliate homebuilder) of lots for construction 60 Townhome units in Phase 1 has been completed. When constructed, 19 of these units will be deed-restricted for moderate-income buyers. To date (September 20), County RMA-Building Services has issued building permits to construct 8 Townhome units.
Phase 2 Housing Construction:
* Sale from UCP East Garrison LLC (the master developer) to Benchmark Communities LLC (the affiliate homebuilder) of 237 of the 315 lots for construction of market-rate homes in Phase 2 has been completed. To date (September 20) County RMA-Building Services has issued 128 building permits for market-rate SFRs in Phase 2, and 63 houses have received final inspection. UCP has notified the County of its intent to proceed with sale of the remaining 78 lots to additional Benchmark affiliates.
* Sale from UCP East Garrison LLC (the master developer) to Benchmark Comm...
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