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zone is not included because it does not have a density limit and therefore would not <br /> provide any incentive for TDR's. The highest densities shown are for the R-3 and R-4 <br /> zones at 29 and 58 units per acre respectively. <br /> The specific characteristics of the major commercial zones are summarized in Table 5. <br /> The allowable densities in these zones are generally higher than in the residential zones. <br /> There is no maximum density for the Broadway MU zone or the B-3 zone. The <br /> maximum density in the C-1 and B-2 zones is 58 units per acre. <br /> RECENT DEVELOPMENT <br /> Table 6 summarizes the characteristics of 25 multi-family projects that received building <br /> permits for new construction since 2000. The projects are organized by zoning <br /> designation, and the actual density is compared to the permitted density. The highest <br /> allowable densities are in B-3, R-5 and BMU (Broadway Mixed Use) zones where there <br /> are no density limits. The most common densities are the B-2B and R-3 zones with <br /> densities of 29 units per acre, and R-4 and B-2 with densities of 58 units per acre. The <br /> latter zones allow for 80 foot building heights. Most of the recent developments are built <br /> at 3 to 4 stories with a mix of surface and structured parking. Even in the zones without <br /> height limits, the recent buildings have not exceeded 80 feet. The R-3 zone allows 45 <br /> feet in height, but recent buildings are 2 and 3 stories. <br /> Most of the projects are single-purpose residential buildings. The mixed-use buildings in <br /> the B-1 zone have small amounts of retail. The buildings in the B-3 zone are mixed use, <br /> but the retail spaces are not yet fully leased. <br /> EVERETT TRANSFER OF DEVELOPMENT RIGHTS STUDY FINAL REPORT <br /> PROPERTY COUNSELORS PAGE 15 <br />