Sherman Street North. Redevelopment Vision / Incentivized D-C Zoning. 11 September 2018

Transcription

1 Sherman Street North Redevelopment Vision / Incentivized D-C Zoning 11 September 2018

2 Sherman Street North Community Vision Three Years Working with the Community has Produced a Shared Vision for Sherman Street North End 40 Years of spot zoning and establish a vision for Sherman Street Create strong links, transitions and pedestrian flow between Downtown and Uptown Neighborhoods Concentrate density at Downtown Transit Nodes Provide incentivized workforce housing Improve the streetscape and tree canopy and restore Sherman Street s Historic Urban Legacy Existing Conditions HISTORIC TREES STREETSCAPE STREETSCAPE EMPTY CORNER LOTS HISTORIC TREES 20TH AVE SHERMAN ST NORTH PROPOSED IMPROVEMENT AREA BRAODWAY 19TH AVE 18TH AVE 17TH AVE 16TH AVE Civic Station Free Metro Ride to Union Station LINCOLN ST E COLFAX AVE Jackson Merchant Specialists D-C The Adele 1905 Sherman Office 10 Stories Emily Griffith High School 13 Stories D-C 1820 Lincoln Denver Financial II 13 Stories 1660 Lincoln 20 Stories D-C D-C 1580 Lincoln 1 D-C One Sherman Place 7 Stories Hampton Inn 6 Stories Denver Financial I 3 D-C Wells Fargo 5 The University Club Colorado Dept. of Human Services 10 Stories Capitol Complex State Office Building 8 Stories SHERMAN ST 1960 Sherman St Apartments SOVA Apartments Drehmoor 1 Apartments Sherman Plaza 7 Stories El Jebel 6 Stories PUD DE FACTO D-C D-C Wells Fargo 1 Central Presbyterian Church C-MX-12 Capitol 3 Stories RTW 3 Stories The Cambridge The Zell C-MS-8 Colorado Dept of Education 5 Stories Grant Park Condos 8 Stories C-MX-12 C-MX-12 Uptown Terrace Portofino Condos 1 C-MX-12 Wells Fargo Bank C-MX-12 George Schleier Mansion 3 Stories C-MX Grant Structure C-MX-12 Capitol 1 C-MX-12 Knights of Columbus Knights of Columbus Colorado Statesman 3 Stories Argonaut Apartments 6 Stories GRANT ST Colorado State Capitol Sherman Street North Tryba Architects 11 September 2018 I 2

3 Sherman Street North Mobility/Well Connected St at io n Coors Field 5 D D O W TO N e D Pa r BI k e N LO id R W e N Benedict Fountain Park t W e re St Sk yl th in 16 Pepsi O 1 FIVE POINTS ro et M id R TRANSIT CENTER ro et M UNION STATION ee Fr TO Loop (10%) Auraria Campus D 1992 Downtown BID O W N Sherman St 3 Colfax Corridor (BRT) 4 16th Avenue Bike Highway 2 D 2 18th & 19th MetroRide Loop en ve r U ee Fr ni on 1 16th Street Mall Sherman St North Proposed Improvement Area UPTOWN CIVIC CENTER TRANSIT CENTER Civic GOLDEN TRIANGLE Colorado Capitol 5 Minute Walk From RTD Civic Station 4 16th Avenue Bike Highway 3 Colfax Corridor BRT CAPITOL HILL NORTH Sherman Street North Tryba Architects 11 September 2018 I 3

4 Sherman Street North Historic Legacy 1909 Today A GRACIOUS AND DISTINCTIVE PLACE 35% of lots along Sherman Street are surface parking lots 9 different uses on Sherman Street 20% of original tree canopy remains Sherman Street North Tryba Architects 11 September 2018 I 4

5 Sherman Street North Streetscape Under Current Zoning Sherman Street North Tryba Architects 11 September 2018 I 5

6 Sherman Street North High Density, Mixed-Use Green Street Required Coordinated Street and Landscape Improvements Sherman Street North Tryba Architects 11 September 2018 I 6

7 Sherman Street North Proposed Improvements 1. Legislatively Rezone Sherman Street to Downtown Core (D-C) to create zoning predictability and encourage development 20TH AVE SHERMAN ST NORTH PROPOSED IMPROVEMENT AREA 19TH AVE Emily Griffith High School 13 Stories 1820 Lincoln Jackson Merchant Specialists The Adele 1905 Sherman Office 10 Stories One Sherman Place 7 Stories Hampton Inn 6 Stories 1960 Sherman St Apartments Sherman Plaza 7 Stories Grant Park Condos 8 Stories SOVA Apartments Drehmoor 1 Apartments Uptown Terrace Portofino Condos 1 2. Implement Incentivized Zoning Overlay to create diverse neighborhoods with affordable, long-term workforce housing 3. Amend City Park View Plane and re-align the 1950 western boundary to be consistent with the boundary of the proposed D-C zoning while preserving the intent of the view plane 4. Expedite Sherman Street Public Realm Improvements with waivers and conditions for each re-zoned property that ties improvements to development milestones High Density, Mixed-Use Green Street Streetscape under Current Zoning BROADWAY 18TH AVE 17TH AVE 16TH AVE Civic Station Free Metro Ride to Union Station LINCOLN ST Denver Financial II 13 Stories 1660 Lincoln 20 Stories Denver Financial I 3 Wells Fargo 5 The University Club Colorado 1580 Dept. of Lincoln Human 1 Services 10 Stories SHERMAN ST El Jebel Sherman St Events 6 Stories Wells Fargo 1 Central Presbyterian Church Structure Capitol 3 Stories RTW 3 Stories The Cambridge The Zell Wells Fargo Bank George Schleier Mansion 3 Stories 1655 Grant Capitol 1 GRANT ST 16th Ave Bike Highway Knights of Columbus Knights of Columbus Capitol Complex State Office Building 8 Stories Colorado Dept of Education 5 Stories Colorado Statesman 3 Stories Argonaut Apartments 6 Stories E COLFAX AVE Colorado State Capitol Sherman Street North Tryba Architects 11 September 2018 I 7

8 Sherman Street North Proposed Legislative Rezoning Existing Zoning Spot Zoning Nine Different Uses Proposed D-C Zoning Extend D-C Zoning to Grant/Sherman Alley Councilman Wayne New is sponsoring a Legislative Rezoning proposal to extend D-C zoning to the Sherman/Grant Street Alley. The Rezoning will: Clean-up inconsistent boundaries between Downtown and Uptown Create zoning predictability and flexibility to encourage coordinated development and minimize requests for multiple new Planned Unit Developments Property owners in the proposed improvement area ave the choice to opt-in 20TH AVE 19TH AVE 18TH AVE 17TH AVE PROPOSED IMPROVEMENT AREA PUD DE FACTO D-C D-C PUD 20TH AVE 19TH AVE 18TH AVE 17TH AVE PROPOSED IMPROVEMENT AREA (E) D-C (E) D-C PROPOSED D-C PUD DE FACTO D-C (E) D-C UPTOWN TRANSITION KEEP PROPOSED LEGISLATIVE RE AREA LODO DOWNTOWN BID DOWNTOWN SHERMAN ST UPTOWN SHERMAN ST NORTH PROPOSED IMPROVEMENT AREA LEGEND Proposed D-C UO-1 Existing D-C UO-1 Existing Existing C-MX-12 LINCOLN ST 16TH AVE E COLFAX AVE SHERMAN ST C-MX-12 GRANT ST LINCOLN ST 16TH AVE E COLFAX AVE PROPOSED D-C SHERMAN ST GRANT ST CAPITOL VIEW PLANE TRANSITION, KEEP STATE CAPITOL Existing Planned Unit Development (PUD) COLORADO STATE CAPITOL COLORADO STATE CAPITOL Sherman Street North Tryba Architects 11 September 2018 I 8

9 Sherman Street North Proposed Incentive Overlay (I-O) Incentivize Affordable Housing in Exchange for Density Incentive Overlay adds multiplier of 4 for each square foot above base density; increase may be applied to build alternative units or linkage fee Affordable units increase estimated 170% from 43 units to 73 units Base Density set by current zoning and City Park View Plane City Park View Plane must be amended to allow Incentive Overlay Existing Zoning and Base Density View Plane Limits Height to on Sherman Street 20TH AVE 19TH AVE 18TH AVE 17TH AVE PROPOSED IMPROVEMENT AREA (E) CITY PARK VIEW PLANE (E) D-C (E) D-C PUD DE FACTO D-C (E) D-C C-MX-12 Proposed D-C Zoning with Incentive Overlay 17:1 if 50% Residential 12:1 if less than 50% Residential 20TH AVE 19TH AVE 18TH AVE 17TH AVE PROPOSED IMPROVEMENT AREA (E) D-C (E) D-C PROPOSED D-C WITH INCENTIVE OVERLAY PUD DE FACTO D-C (E) D-C PROPOSED D-C WITH INCENTIVE OVERLAY PROPOSED CITY PARK VIEW PLANE Proposed D-C UO-1 16TH AVE 16TH AVE Proposed I-O Existing D-C UO-1 Existing Existing C-MX-12 Existing PUD City Park View Plane LINCOLN ST E COLFAX AVE SHERMAN ST COLORADO STATE CAPITOL GRANT ST LINCOLN ST E COLFAX AVE SHERMAN ST COLORADO STATE CAPITOL GRANT ST Sherman Street North Tryba Architects 11 September 2018 I 9

10 Sherman Street North Proposed City Park View Plane Amendment Bring the City Park View Plane boundary into alignment with the proposed D-C Zoning and enable Incentive Overlay District Create a clean transition zone between the Grant Street and the Grant/Sherman Street Alley, to allow for heights and densities to step down from Downtown to Uptown Align the boundary with the current location of the boundary's "notch" at the Wells Fargo Incorporate the previously approved El Jebel Tower Planned Unit Development Lincoln St. PROPOSED IMPROVEMENT AREA N LINCOLN ST Lincoln St. PROPOSED IMPROVEMENT AREA 21ST ST SHERMAN ST. 21ST ST SHERMAN ST. 22ND ST CURTIS ST 22ND ST N SHERMAN ST RK AVE W E. 20th Ave. Grant St. CHAMPA ST PARK AVE W N GRANT ST Grant St. PUD STOUT ST 24TH ST N LOGAN ST E. 20th Ave. 25TH ST COURT PL E 20TH AVE Logan St. E. 16th Ave. E. Colfax Ave. ST COURT PL E 20TH AVE Logan St E. 16th Ave. E. Colfax Ave. N PENNSYLVANIA ST 26TH ST Civic Height Restrictions / Capitol View Plane N PEARL ST Key Civic Height Restrictions / Capitol View Plane - NO CHANGE Key E 26TH AVE City Park - Natural History Museum V N WASHINGTON ST N LINCOLN ST 21ST ST N LINCOLN ST 21ST ST CURTIS ST 22ND ST N SHERMAN ST CURTIS ST 22ND ST N SHERMAN ST N CLARKSON ST CHAMPA ST PARK AVE W N GRANT ST CHAMPA ST PARK AVE W N GRANT ST STOUT ST 24TH ST N LOGAN ST STOUT ST 24TH ST N LOGAN ST 25TH ST 25TH ST N PENNSYLVANIA ST COURT PL E 20TH AVE PARK AVE N EMERSON ST PUD 2003 N PENNSYLVANIA ST 26TH ST COURT PL E 20TH AVE 1,000 2,000 Feet PARK AVE 26TH ST N PEARL ST N PEARL ST N WASHINGTON ST City Park - Natural History Museum View Plane N WASHINGTON ST N CLARKSON ST N CLARKSON ST PARK AVE N EMERSON ST PARK AVE N EMERSON ST N OGDEN ST N OGDEN ST N CORONA ST N CORONA ST N DOWNING ST View Plane Boundary N OGDEN ST N CORONA ST N DOWNING ST N DOWNING ST N MARION ST N LAFAYETTE ST N HUMBOLDT ST E 13TH AVE E 28TH AVE E 27TH AVE E 26TH AVE E 25TH AVE E 24TH AVE E 23RD AVE E 22ND AVE E 21ST AVE N RACE ST N VINE ST N GAYLORD ST N YORK ST N JOSEPHINE ST N COLUMBINE ST N ELIZABETH ST Cheesman Area Formerly Included Park in View Plane E COLFAX AVE N CLAYTON ST E 17TH AVE E 16TH AVE E 14TH AVE N DETROIT ST N FILLMORE ST E 23RD AVE City Park CITY PARK See the Denver VIEW Revised PLANEMunicipal Code Chapter 10, Article IV - Restrictions on Structures within Areas Necessary to Preserve Mountain Views. Sec City Park Natural History Museum. View Plane Boundary N MARION ST N MARION ST CITY PARK VIEW PLANE N LAFAYETTE ST N HUMBOLDT ST N LAFAYETTE ST E 13TH AVE E 28TH AVE E 27TH AVE E 25TH AVE E 24TH AVE E 23RD AVE E 22ND AVE E 21ST AVE N RACE ST N VINE ST N GAYLORD ST N YORK ST N JOSEPHINE ST N COLUMBINE ST E 23RD AVE E 28TH AVE E 27TH AVE E 26TH AVE E 25TH AVE N ELIZABETH ST Cheesman Area Formerly Included Park in View Plane N HUMBOLDT ST Disclaimer: The City and County of Denver shall not be liable for damages of any kind arising out of the use of this information. The information is provided "as is " without warranty of any kind, express or implied, including, but not limited to, the fitness for a particular use. This is not a legal document. E 23RD AVE E 22ND AVE Existing City Park View Plane Boundary E 21ST AVE E COLFAX AVE N CLAYTON ST E 17TH AVE E 16TH AVE E 14TH AVE N DETROIT ST N FILLMORE ST City Park N MILWAUKEE ST E 24TH AVE E 23RD AVE E 22ND AVE E 21ST AVE N MILWAUKEE ST N SAINT PAUL ST View Plane Origin Point View Plane Boundary Proposed City Park View Plane Boundary E 13TH AVE Cheesman Park N RACE ST N VINE ST N SAINT PAUL ST N STEELE ST N STEELE ST N ADAMS ST N ADAMS ST N COOK ST N COOK ST N MADISON ST Base Elevation 5,303.93' N MADISON ST N MONROE ST Base Elevation 5,303.93' N MONROE ST N GARFIELD ST N GARFIELD ST N JACKSON ST Sherman Street North N GAYLORD ST N YORK ST N JOSEPHINE ST April 2013 Source: City and County of Denver Community Planning and Development N JACKSON ST N COLUMBINE ST Sherman Street North N ELIZABETH ST E View P E View P View Plane Origin Point View Plane Boundary T ST T A ST ST ST T T Sherman Street North Tryba Architects 11 September 2018 I 10 T ST T ST ST T ST ST ST

11 Sherman Street North - View from City Park Today View Plane Western Boundary did not preclude skyscraper boom beginning in the late 1970 s Wells Fargo Over the past 4 decades, the view from City Park Civic has evolved Height to showcase Restrictions the iconic topography and of the Rocky Mountains in juxtaposition 698 Feetwith the man-made topography of Downtown Denver The City Park View Plane s western boundary did not preclude Capitol the boom View of Plane skyscraper construction on B-5 Zoning Downtown Denver parcels Republic (beyond Plaza the western boundary of the view plane) that 1801 started California in the late 1970s and the 1980s; this boom resulted in multiple skyscrapers of over 700 foot heights. The tallest current building in Denver is 714 feet (Republic 714 Feet Plaza). El Jebel Tower 709 Feet th and Sherman * Denver Financial 1981 Colorado State Capitol Feet '-0" Height Plane 1975 City Park View Plane View Plane Created to preserve the municipality s unique hertiage as a city of the plains at the foot of the Rocky Mountains Sherman Street North Tryba Architects 11 September 2018 I 11

12 Sherman Street North - Future View from City Park View from City Park continues to evolve and showcase iconic Rocky Mountains and Downtown skyline 16th and Sherman Potential Build-out 18th and Sherman Potential Build-out Civic Height Restrictions and Capitol View Plane (Unchanged) Colorado State Capitol Theoretical 13th St and Welton Tower (Not in Scope of this Rezoning Proposal) El Jebel Tower 17th and Sherman 2003* Theoretical Projects on Undeveloped Central Business District Parcels, West of Broadway (Not in Scope of this Rezoning Proposal) 150'-0" Height Plane 1975 City Park View Plane * = Variance to City Park View Plane Boundary was required Sherman Street North Tryba Architects 11 September 2018 I 12

13 Sherman Street North Proposed Public Realm Improvements Initial Improvements $450,000 - $600,000 Improvements within 12 months of Rezoning Approval Restore Tree Canopy Street Trees and Tree Lawn Improved Pedestrian Lighting Trashcans Surface Screening with Fences and Hedges Patch and Repair Existing Sidewalks Bicycle Pedestrian Lighting 2 3 SHERMAN STREET Development Proposal In Progress Future Improvements $900,000 - $1,200,000 Future Improvements Area of Commitment to future streetscape improvements to occur concurrently with Development of Sites 1 Surface Art and Cultural Programming Sherman Street North Tryba Architects 11 September 2018 I 13

14 Sherman Street North Improved Street Activation 2 3 Existing Sherman St/18th Ave Intersection Uptown/Downtown Gateway Sherman Street North Tryba Architects 11 September 2018 I 14

15 Sherman Street North Process C O M M U N I T Y I N P U T View Plane Amendment September March 2019 Rezoning Application to City Planning September March Public Meetings 3-4 weeks 4 Public Notices 15 day notices Outreach June September 2018 Vision July - September 2018 Pre-Application Meeting September Readings 4 weeks Develop Urban Design Guidelines & Standards and Development Agreements September February 2019 Where we are Today NPI East Central Area Plan June September 2019 Next Steps 08/07/18 09/24/18 Complete Outreach to Property Owners Included in Rezoning 09/11/18 - Sherman Street Open House 10/1/18: Target Date for Legislative Rezoning Application and View Plane Amendment Submittal November: Community Planning and Development Department Comments December: Planning Board Hearing January: Land Use, Transportation and Infrastructure Hearing February/March: City Council Approval Sherman Street North Tryba Architects 11 September 2018 I 15

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17 Sherman Street North Residential and Workforce Housing with Incentivized D-C Zoning 2017 s Housing an Inclusive Denver established a five-year plan for housing policy, strategy and investment, acknowledging that Denver is at a pivotal point where despite extremely low unemployment (2.2%), high workforce participation (90%+), and tremendous economic growth, housing costs are growing at such a rapid pace that incomes cannot keep up. Housing an Inclusive Denver is organized around several fundamental values: 1) A focus on leveraging and enhancing housing investments to promote the ongoing development and preservation of inclusive communities in Denver; 2) Building communities of opportunity that help all residents reach their full potential; 3) Supporting housing as a continuum where the needs and conditions along one part of the continuum influence the success of other areas; and, 4) A need to stabilize residents at risk of involuntary displacement due to economic pressures. In 2017, as part of ongoing efforts to implement the 38th & Blake Station Area Plan Amendments, City Council President Albus Brooks proposed an Incentive Height Overlay for the 38th and Blake Station area and a Design Overlay for the station area and surrounding River North Arts District (RiNo). The intention of the 38th & Blake Station overlays is to help direct growth into areas of the city that are best equipped to handle change, while also ensuring that those areas become great places. The overlays promote high quality design and capture a portion of the increased property values that result from significant public investments, such as the train station, and use them to ensure that new development benefits the community. 38TH & BLAKE STATION ADOPTED OVERLAY MAP Sherman Street North has the potential to leverage new Incentive Overlay tools to create more affordable and workforce housing options for this key transitional area of Denver. However, the Incentive Height Overlay as written is intended for an area with a Form-Based Zoning code with height limits, whereas Sherman Street proposes using the Downtown Core zoning. We propose a new Incentive Overlay with density as the controlling metric, which could serve both as catalyst to development on these Sherman Street sites, and as a new tool for other Downtown areas which seek to maximize the density on their sites while providing community benefits and addressing housing needs. Sherman Street North Tryba Architects 11 September 2018 I 17

18 Sherman Street North 16th & Lincoln / 16th & Sherman with Incentivized D-C Zoning USE BY RIGHT ENVELOPE EXAMPLE INCENTIVE ENVELOPE SHERMAN STREET E. 18TH AVE. 1 El Jebel Tower 650 Ft Entitled in 2003 Theoretical Future Development (Not in the Scope of this Rezoning Proposal) Lincoln St El Jebel Tower 650 Ft Entitled in 2003 INCENTIVE DENSITY A Lincoln St BASE DENSITY ENVELOPE B 3 1 A 2 C 4 Sherman St. CURRENT USE BY RIGHT BLOCKS VIEWS AND AMENITIES E 19th Ave. BASE DENSITY 145-0" B C 125' - 0" 2 125' - 0" Sherman St. E 19th Ave. 3 E 18th Ave. E 18th Ave. 121' - 0" Grant Street Grant Street 1 Zoning -200 Height Limit/16 Story Limit per Zoning 1 Concentrate density at the corner, D-C Zoning, 17:1 Maximum 2 3 Height Reduced to 150 by City Park View Plane C-MX-12 Zoning -150 Height Limit/12 Story Limit per C-MX-12 Zoning Height Reduced to 135 by City Park View Plane Unable to Join Parcels into single, predictable, developable Zone under current Zoning 2 3 Limit Maximum Height to 55 to relate to context, preserve view corridors, and provide rooftop gardens Limit Maximum Height to 35 to relate to context, preserve view corridors, and provide rooftop gardens 4 5 Current Zoning would promote maximum development on the site, which would completely surround the neighboring Portofino Tower - 55 Home Owners Current Zoning promotes poor architectural design and disincentivizes contextual compatibility Potential Uses: Ground Floor Retail, Gallery, and Mobility and Bike Hub; Office, Residential or Hotel Above Workforce Housing: Workforce Housing: Base Density Unit Requirement: Up to 12 Units Unit Requirement with Incentive Overlay: Up to 25 Units Sherman Street North Tryba Architects 11 September 2018 I 18

19 Sherman Street North 16th & Lincoln / 16th & Sherman with Incentivized D-C Zoning Proposed Waivers 1. Waive 400 Height Limit a. Parcel at 16th Avenue/Lincoln & 16th Avenue/Sherman Proposed Conditions 1. Streetscape Improvements to commence and diligently proceed toward completion within one year of approval of rezoning request (development agreement): a. Trees on Sherman Street Frontages of undeveloped properties at 16th and Sherman Street and 18th Ave. and Sherman Street b. Tree lawns on Sherman Street Frontages of undeveloped properties at 16th and Sherman Street and 18th and Sherman Street c. Improved, distinctive pedestrian lighting on Sherman Street Frontages undeveloped properties at 16th and Sherman Street and 18th and Sherman Street d. Trash cans of consistent architectural character on Sherman Street Frontages of undeveloped properties at 16th and Sherman Street and 18th and Sherman Street e. Surface Screening with Fences and/or Hedges on Sherman Street Frontages undeveloped properties at 16th and Sherman Street and 18th and Sherman Street f. Patching and replacing existing sidewalk to bring up to existing code as needed on Sherman Street Frontages of undeveloped properties at 16th and Sherman Street and 18th and Sherman Street. g. Bicycle on Sherman Street Frontages of undeveloped properties at 16th and Sherman St. and 18th and Sherman St. h. Downtown Denver Partnership will collect maintenance fees and enforce maintenance by individual property owners, as Sherman Street North is within its boundaries. 2. Additional Urban Design Requirements (development agreement): a. On northwest corner of 16th Avenue and Sherman Street, provide a 125 by 125 minimum area, measured from the south and eastern property lines, where building height is not to exceed (Per D-C Zoning, allow for rooftop gardens, decks, elevator penthouses, stair enclosures, mechanical equipment enclosures, spires, flagpoles, eaves, chimneys, flues, vents, elevator lobbies, parapets, open structures, solar panels, and accessory mechanical equipment to encroach on this height, and allow ancillary enclosed rooftop structures to encroach for no more than 25% of roof area) b. On parcel at northwest corner of 16th Avenue and Sherman Street, provide regulating architectural feature on full frontage of Sherman Street at 170-0, if building along Sherman Street is 170 or taller Workforce Housing Analysis Example YIELD UNDER Site 1 1A Alley 1B Size (SF) 40,625 5,185 40,625 Existing Max. FAR Allowed 17 0 NA Existing Max Height Allowed (Ft) Existing Max Stories Allowed (by Zoning & View Plane) Existing Max SF Allowed 690, ,375 Overall Site Yield - Existing Zoning (SF) 1,300,000 YIELD UNDER PROPOSED (3 Residential) Site 1 INCENTIVE OVERLAY 1A Alley 1B Size (SF) 40,625 5,185 40,625 Proposed Max. FAR Allowed Proposed Max Height Allowed (Ft) NA 0 NA Proposed Max SF 690,625 88, ,625 Incentive Floor Area 0 88,145 81,250 Overall Site Yield - Proposed Zoning (SF) 1,469,395 TOTAL SQUARE FOOTAGE PROPOSED 2,961,978 Base Floor Area Incentive Floor Area - Proposed Zoning vs. Existing Percent Increase in SF - Proposed Zoning vs Existing Workforce Housing: Base Required Units ((Base SF/1000) x ) Additional Incentive Units ((Incentive SF/1000) x ( x 4)) Total Units Required PERCENT INCREASE IN WORKFORCE HOUSING 1,300, ,395 13% Up to 22 units Up to 12 units Up to 34 units Up to 55% Sherman Street North Tryba Architects 11 September 2018 I 19

20 Sherman Street North 18th & Lincoln / 18th & Sherman with Incentivized D-C Zoning SHERMAN STREET E. 18TH AVE. USE BY RIGHT ENVELOPE PROPOSED INCENTIVE ENVELOPE Wells Fargo 698 Ft Wells Fargo 698 Ft El Jebel Tower 650 Ft Entitled in Theoretical Future Development El Jebel Tower 650 Ft Entitled in Theoretical Future Development ENVELOPE (Not in the Scope of this Rezoning Proposal) (Not in the Scope of this Rezoning Proposal) 2 3 INCENTIVE DENSITY BASE DENSITY BASE DENSITY Grant Street E. 18th Ave. Sherman Street E. 19th Ave. Lincoln Street Grant Street E. 18th Ave. Sherman Street E. 19th Ave. Lincoln Street D-C Zoning Height Limit (Height Restriction Zone #2) - 17:1 FAR Maximum Zoning -200 Height Limit/16 Story Limit per Zoning Height Reduced to 150 by City Park View Plane Unable to Join Parcels into single, predictable, developable Zone under current Zoning Each parcel is approximately 125 x Modules and Building Service Core Modules do not fit within the lot footprint at the heights and densities allowed under current zoning. Sites cannot be economically or efficiently developed. Workforce Housing: Base Density Unit Requirement: Up to 9 Units 1 Combine Parcels into one zone lot to create predictable, feasible development - D-C Zoning, 17:1 FAR Maximum, Waive 400 Height Limit Potential Uses: Ground Floor Community-Serving Retail, Gallery & ; Office, Residential or Hotel Above Workforce Housing: Unit Requirement with Incentive Overlay: Up to 14 Units Sherman Street North Tryba Architects 11 September 2018 I 20

21 Sherman Street North 18th & Lincoln / 18th & Sherman with Incentivized D-C Zoning Proposed Waivers 1. Waive 400 Height Limit a. Parcel at 18th Avenue/Lincoln & 18th Avenue/Sherman Proposed Conditions 1. Streetscape Improvements to commence and diligently proceed toward completion within one year of approval of rezoning request (development agreement): a. Trees on Sherman Street Frontages of undeveloped properties at 16th and Sherman Street and 18th and Sherman Street b. Tree lawns on Sherman Street Frontages of undeveloped properties at 16th and Sherman Street and 18th and Sherman Street c. Improved, distinctive pedestrian lighting on Sherman Street Frontages undeveloped properties at 16th and Sherman Street and 18th and Sherman Street d. Trash cans of consistent architectural character on Sherman Street Frontages of undeveloped properties at 16th and Sherman Street and 18th and Sherman Street e. Surface Screening with Fences and/or Hedges on Sherman Street Frontages undeveloped properties at 16th and Sherman Street and 18th and Sherman Street f. Patching and replacing existing sidewalk to bring up to existing code as needed on Sherman Street Frontages of undeveloped properties at 16th and Sherman Street and 18th and Sherman Street. g. Bicycle on Sherman Street Frontages of undeveloped properties at 16th and Sherman St. and 18th and Sherman St. h. Downtown Denver Partnership will collect maintenance fees and enforce maintenance by individual property owners, as Sherman Street North is within its boundaries. Workforce Housing Analysis Example YIELD UNDER Size (SF) Existing Max. FAR Allowed Existing Max Height Allowed (Ft) Existing Max Stories Allowed (by Zoning & View Plane) Existing Max SF Allowed Overall Site Yield - Existing Zoning (SF) YIELD UNDER PROPOSED (3 Residential) INCENTIVE OVERLAY Size (SF) Proposed Max. FAR Allowed Proposed Max Height Allowed (Ft) Proposed Max SF Incentive Floor Area Overall Site Yield - Proposed Zoning (SF) Base Floor Area Incentive Floor Area - Proposed Zoning vs. Existing Percent Increase in SF - Proposed Zoning vs Existing Site 2 2A Alley 2B 15,625 2,000 17, NA , , ,430 Site 2 2A Alley 2B 15,625 2,000 17, NA 0 NA 265,625 34, , ,000 34, ,804 16% 523,430 68,374 13% 13% Workforce Housing: Base Required Units ((Base SF/1000) x ) Additional Incentive Units ((Incentive SF/1000) x ( x 4)) Total Units Required PERCENT INCREASE IN WORKFORCE HOUSING Up to 9 units Up to 5 units Up to14 units Up to 55% Sherman Street North Tryba Architects 11 September 2018 I 21

22 Sherman Street North Residential and Workforce Housing with Incentivized D-C Zoning Incentive Overlay for additional density allowances above current zoning, in exchange for workforce housing (Zone Overlay District by CPD): Incentive Overlay is modeled after recently adopted Incentive Height Overlay IO-1 for 38th/Blake RiNo rezoning and development. However, because the proposed area for Sherman Street rezoning has a base zoning of D-C, which has density limits, the following conditions are proposed: A. Create a Base Density and Incentive Density Overlay 1. Base Density: a. For Parcels Under Existing D-C Zoning: FAR allowed under the Current D-C Zoning (17:1 FAR for residential projects, 12:1 for commercial) b. For Parcels Under Existing C-MX Zoning Maximum density allowed on the parcel under the maximum height and maximum story constraints (ie. for a 100,000 SF parcel in C-MX-12 with a maximum 12 stories or 150 feet, a residential project would have 1,200,000 SF Base Density) 2. Incentive Density: a. For Parcels Under Existing D-C Zoning: No additional density allowed, and no additional Build Alternative Multiplier or Incentive Density Linkage Fee applied. b. For Parcels Under Existing C-MX Zoning: Incentivize Residential Development by allowing 17:1 Maximum FAR if 50% Residential (12:1 Maximum FAR if less than 50% Residential), in exchange for an Incentive Density Build Alternative Multiplier of 4 or an Incentive Density Linkage Fee Multiplier of 4 for each SF of additional density allowed above Base Density. B. Build Alternative Units may be located on the subject property, or at an off-site location within 1 mile of the subject property. Properties that qualify for Build Alternative Units off-site are those projects which receive their Certificate of Occupancy after the enactment of this legislation, and they may be considered as satisfying the Build Alternative requirement for any future projects on Sherman Street as allocated. Phase 1 of Sherman Street North has the development potential of adding up to 650 units of a wide variety of housing types to the market, and with a new Incentive Overlay, could provide up to 73 affordable units to address several of the goals of the Housing an Inclusive Denver plan. Sherman Street North Tryba Architects 11 September 2018 I 22