Maximum Market-Rate
|
Minimum Nonresidential
|
---|---|
Dwelling Units Completed
|
Gross Floor Area Completed
(square feet)
|
238
|
60,000
|
Maximum Market-Rate Dwelling Units Completed
|
Minimum Nonresidential Gross Floor Area Completed
(square feet)
|
---|---|
320
|
No requirement
|
230/550 cumulative
|
100,000
|
450/1,000 cumulative
|
125,000/225,000 cumulative
|
450/1,450 cumulative
|
125,000/350,000 cumulative
|
278/1,718 cumulative
|
150,000/500,000 cumulative
|
After receipt of the 320th certificate of occupancy ("CO") for
market-rate dwelling units, the developer shall be permitted to receive
building permits for an additional 230 market-rate dwelling units,
but shall not receive COs for the additional 230 market-rate dwelling
units until it has received a CO for 100,000 square feet of nonresidential
space (shell only, fit out when tenants identified). Thereafter, the
developer shall be permitted to receive building permits for an additional
450 market-rate dwelling units, but shall not receive COs for the
additional 450 market-rate dwellings until it has received a CO for
an additional 125,000 square feet of nonresidential space (shell only,
fit out when tenants identified). Thereafter, the developer shall
be permitted to receive building permits for an additional 450 market-rate
dwelling units, but shall not receive COs for the additional 450 market-rate
dwellings until it has received a CO for an additional 125,000 square
feet of nonresidential space (shell only, fit out when tenants identified).
Thereafter, the developer shall be permitted to receive building permits
for an additional 278 market-rate dwelling units, but shall not receive
COs for the additional 278 market-rate dwellings until it has received
a CO for an additional 150,000 square feet of nonresidential space
(shell only, fit out when tenants identified). Upon receipt of COs
for the cumulative 550,000 square feet of nonresidential space, the
developer shall be permitted to apply for COs for the remaining 278
market-rate dwelling units, and there shall be no further restriction
on the completion of the market-rate residential units related to
the completion of nonresidential space.
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