But the developer pulled out because they couldnt get the financing. Personally, i joined the mission bay in 2007 and i got two or three calls from other developers and none of them have progressed other than initial conversations. In addition the master developer told us theyve been marketing this site with those existing o pa requirements and havent been to attack the one developer who couldnt make it work, however, they started construction in 2011 and exploring opportunity to amend the o pa to make it feasible. Just before i move on there was a systematic design and this design looks like this the integral are having this design. So we will not come back with the design if they change it significantly well come back to you for additional approval for the design. As part of their Due Diligence they did an affectionate requirement. Tim from the Concord Group is here to answer questions about the study. The study you found out that any moderate for sale units will have a public subsid
We have 6 hundred plus unit more than the ot a required so were over leveling percent more than the original that was required. We have 20 more than the o pa. This is; however, while the master developer has succeeded those a theyve not provided the breakdown as required. They built one hundred opt above that was required so even though we have 20 unit more if you do the math we have the last requirement for the 80 moderate unit. This tramths to one hundred and 10 percent as a 4 percent household earning. We do anticipate that any additional moderate rate units will be built for Affordable Housing. The full built out in the south the oc i will have one hundred and 8 additional units. Based on the affordability of the financing forces we anticipate all the 11 hundred units to be low and theres no other tax credit that target the moderate rate. Theres an inclusionary requirement that requires an inclusionary unit to target the low income. So block 4 p is the only additional income unit.
Required to have 5 hundred and 93 units and the developers are required to build a percentage. We have 6 hundred plus unit more than the ot a required so were over leveling percent more than the original that was required. We have 20 more than the o pa. This is; however, while the master developer has succeeded those a theyve not provided the breakdown as required. They built one hundred opt above that was required so even though we have 20 unit more if you do the math we have the last requirement for the 80 moderate unit. This tramths to one hundred and 10 percent as a 4 percent household earning. We do anticipate that any additional moderate rate units will be built for Affordable Housing. The full built out in the south the oc i will have one hundred and 8 additional units. Based on the affordability of the financing forces we anticipate all the 11 hundred units to be low and theres no other tax credit that target the moderate rate. Theres an inclusionary requirement that requires a
Project. This is an aerial view especially where the construction trailers are thats the site and you can seeing see how awkwardly adjacent to the freeway. The mission bay north is made up of inclusionary unit and other projects. The Master Developers allowed for the inclusionary housing unit theyre required to be broken into 3 tiers very low up to middle income low up to 70 percent and moderate chitchats one hundred and 10 percent. The unit are sold to a third party similar to what we do with nonprofits. Overall the o pa between the master developer a total of 20 percent of the units have been to affordable pardon this the broken down under the o pa. The full build out will have 2 thousand and 64 units. This is the 29 opts. So applying the 20 percent were required to have 5 hundred and 93 units and the developers are required to build a percentage. We have 6 hundred plus unit more than the ot a required so were over leveling percent more than the original that was required. We have 20
93 units and the developers are required to build a percentage. We have 6 hundred plus unit more than the ot a required so were over leveling percent more than the original that was required. We have 20 more than the o pa. This is; however, while the master developer has succeeded those a theyve not provided the breakdown as required. They built one hundred opt above that was required so even though we have 20 unit more if you do the math we have the last requirement for the 80 moderate unit. This tramths to one hundred and 10 percent as a 4 percent household earning. We do anticipate that any additional moderate rate units will be built for Affordable Housing. The full built out in the south the oc i will have one hundred and 8 additional units. Based on the affordability of the financing forces we anticipate all the 11 hundred units to be low and theres no other tax credit that target the moderate rate. Theres an inclusionary requirement that requires an inclusionary unit to target t