A 9.6 acre piece of land on Mission’s north side is the city’s largest parcel of remaining land that has never been developed. Now it is proposed as the site for the latest apartment complex in a part of the city that is dotted with apartments.
The wooded acreage with a steep terrain lies south of 51st Street near Barkley. With the exception of the east side of the parcel, which has single-family homes, the area is surrounded by existing apartment complexes. The new proposal, coming from Launch Development, would build a 204-unit “high end” market-rate apartment complex on the land. Two buildings would be three-story structures, each containing 92 apartments and another two buildings on the east side would each house 10 apartments apiece in two-story structures that would be built into the side of the steep hill bordering the single-family homes.
The configuration would keep the height of the apartments at the same level as the homes, the developers said. Craig Laderoute and Kurt Rhoden are the principals in the development company. The land is designated for high density residential in the city’s comprehensive plan.
The two larger buildings on the site will require underground parking to be built. The project will have approximately two parking spaces for each unit, a city council committee was told Wednesday. The developers had indicated to the city that the underground parking is required to get the minimum number of residential units on the site to make it economically viable. The project also will include a pool and clubhouse.
Laderoute said Wednesday that the need for underground parking structures and the topography of the land would add costs to the project and require the developers to ask for financial assistance from the city. That would likely be in the form of a property tax reduction mechanism. No proposal for financing has been submitted.
A council committee agreed Wednesday to move a pre-development agreement to the full council agenda so the city and developer can begin work on a development proposal. The developer agreed to establish a $10,000 fund to reimburse the city for work in creating an agreement.
The site had been proposed for development of a 203-unit independent living senior housing project in 2007, but that project ran into the recession and never materialized.