Town of Chapel Hill North Carolina Executive Summary
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NORTH CAROLINA


EXECUTIVE SUMMARY

Meeting Date: 2/11/2013
AGENDA #10


Title of Agenda Item: Consider Application for Special Use Permit/North - 123 W Franklin Street; and
Consider Application for Special Use Permit Modification/South - Granville Towers
 (R-9)(R-10)(R-11)(R-12)

Council Goal: Champion Downtown

Background: Tonight the Council continues the Public Hearings held on November 12, 2012 to consider two applications: Special Use Permit/North, 123 W Franklin Street, and Special Use Permit Modification/South, Granville Towers. The Special Use Permit/North, where University Square is currently located, proposes the principal development including 3 buildings with 580,000 s.f. of mixed-use floor area, 300 dwelling units and 1,023 vehicular parking spaces. The Special Use Permit Modification/South proposes a new access point on Cameron Avenue. No changes are proposed to Granville Towers. Please see the accompanying Rezoning request.

Fiscal Note: The Council has recently expressed interest in assessing the economic impacts of 123 West Franklin Street. While the Town has not yet developed a formal process for evaluating economic impact we have considered the costs and benefits of this development. On balance, the proposed redevelopment appears to have a positive economic impact. The proposed development would use existing infrastructure, without the need for new Town financed capital improvements. The project generates additional revenue and benefits associated with the Town’s interests, such as green space, parking and an affordable housing contribution. Additional services may be required as the development progresses, especially in public safety.

Recommendations: That the Council continue the Public Hearings to consider additional information and receive public comment. We recommend approval of Resolutions A, with conditions, for Special Use Permit/North, 123 W Franklin Street and Special Use Permit Modification/South, Granville Towers.


ATTACHMENTS:
Viewing attachments may require Adobe Acrobat.
Staff Memorandum
Revised Resolution A - Special Use Permit / North, Approving the Application
Resolution B, Special Use Permit / North, Denying the Application
Revised Resolution A, Special Use Permit Modification/South, Approving the Application
Resolution B, Special Use Permit Modification/South, Denying the Application
Combined Advisory Board Summaries of Action
Applicant's Response to Council's Questions
Combined Applicant's Materials
Traffic Impact Analysis Summary
Area Map