Eagle planning commission to take first look at proposed North Broadway project
The 24-acre site envisions for-sale, rental housing
After nearly a year of planning and stakeholder outreach, the Eagle Planning and Zoning Commission will have its first look on May 2 at a potential new neighborhood that is proposed to be built just north of Broadway and along Grand Avenue.
The North Broadway mixed-use neighborhood proposes a diversity of housing types, including a substantial number of affordable units, which is consistent with the future master plan land-use designation. The site is located along the hillside adjacent to the Eagle River and close to both downtown Eagle and the Eagle River Park.
“We have embraced the site’s unique challenges and opportunities to ensure an inviting gateway development for the town of Eagle that will support pedestrian and trail connectivity goals; respect the adjacent watershed; deliver critical new workforce housing units; create active open space amenities; and promote economic vitality through thoughtful mixed-use design and density to define a true sense of place,” said Ryan Tobin, vice president of development for Nashville-based Elmington Capital Group Acquisitions LLC. “We are very appreciative of town of Eagle staff and community members providing ongoing guidance and valuable input.”
It’s three parcels
The North Broadway concept plan is made possible with the coordination of three private parcels: The Johnson and Case (102 & 101 Ping Lane, respectively) properties are currently zoned Rural Residential; and the Steven Peters parcel at Brooks Lane (404 Brooks Lane) is zoned PUD Mobile Home Park. Elmington Capital Group currently has 404 Brooks Lane and 101 Ping Lane under contract and is working toward finalizing terms for development with the balance of owners. Owners and tenants of the current properties, including the mobile home properties, have been notified of the sale and will be extended options to remain in the new neighborhood long-term. Individual owners of the mobile homes have a statutory option to pursue acquiring and preserving the site.
The proposed preliminary subdivision plan will set the necessary framework for a phased development while celebrating the site’s natural features and location. From the hillside, there are excellent views to the north and west with good sun exposure from the south and west that will allow the orientation of buildings for passive and active solar energy. The lower portions of the site adjacent to the river are natural amenities that include a floodplain and wetlands, which will be protected.
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The plan also provides two points of access to ensure fire truck and emergency vehicle access.
The new neighborhood will support higher density and more compact, walkable and connected areas. The site is currently 24.18 acres combined among the three ownership parcels with approximately 20.4 acres of usable land area (not within the watershed or south of the subject site.)
Meeting affordability goals
The plan envisions 57 townhomes, with a mix of for-sale market-rate units and deed-restricted homes serving buyers earning between 80% to 140% of the area median income. Rental housing is also part of the plan.
North Broadway’s proposed workforce rental housing directly meets the number of affordable units the town is currently short at or below 60% AMI, further positioning the town for future funding from the state of Colorado under Prop. 123 approved by voters.
About 7.5 acres were identified as either future open space dedication or expected to be unimproved areas within the appropriate river setbacks.
The project is expected to seek inclusion into the Downtown Development Authority.
“With our proposed project, we will also improve the eastern side of the Eagle River and provide broad community access via a future trail way in the 75-foot setback area along the river,” Tobin said. “Walking and biking paths will also be added to allow for access to the eastern side of the Eagle River and connect to existing trail networks.”
An additional crossing is being pursued to cross the railroad line off of Grand Avenue to support the master plan concepts of connectivity to both the river and Broadway. There are no planned dwelling units within 50 feet of the railway.