Laserfiche WebLink
Proposed Development North Site <br />Aeon is proposing development of two (2) mixed-income, multifamily buildings and a mix of owner-occupied single <br />family homes and townhomes on the 8.38 city-owned acres (“North site”) located northeast of the intersection of <br />8th Avenue Northwest and Old Highway 8 Northwest in New Brighton. <br />Aeon will develop, own, and manage the mixed-income, multifamily buildings located on the North site. The <br />buildings will include approximately 119 apartments with estimated rents to range from $670 to $1,470 for one-, <br />two-, and three-bedroom units. <br />The mixed-income, multifamily buildings will include apartments with rent and income restrictions as well as <br />market rate apartments (with no rent or income restrictions). Restricted apartments will be affordable to families <br />earning approximately $54,240 or less. In an effort to expand housing options to area families, 75% of the <br />apartments located on the North site will have two or more bedrooms. <br />Approximately 4.12 acres around the perimeter of the North site will be developed as owner-occupied single family <br />homes and owner-occupied townhomes. The proposal calls for 15 single family homes along the perimeter of the <br />property and 25 townhomes. While Aeon is experienced in the development of townhomes, it is likely that acreage <br />at the site’s perimeter will be sold to another developer or developed by Aeon in partnership with another <br />developer. <br />Aeon is also proposing two public parks for the North site, including an open playing field in the northwest portion <br />of the property and a pocket park along 8th Avenue NW and Old <br />South Site <br />Aeon is also proposing development of one (1) multifamily senior building on the 2.41 city-owned acres (“South <br />site”) located east of the intersection of 8th Avenue Northwest and Old Highway 8 Northwest in New Brighton. <br />Aeon will develop, own, and manage the senior building on the South site. This development will include <br />approximately 120 one- and two-bedroom apartments. The South site’s apartments will be restricted to seniors <br />age 62 and older and will restrict rents to be affordable to households earning $43,400 or less. <br /> Site Plan A site plan has been included as Attachment 1.