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Pearl Street redevelopment plan scaled down to increase affordable units and reduce city cost
Summary
Commissioners described an amended Master Development Agreement for the Pearl Street lot that reduces overall units while raising the number of affordable units and shrinks planned city parking ownership; construction timing and garage cost guarantees were discussed.
Commissioners described a proposed amendment to the Master Development Agreement (MBA) for the Pearl Street lot redevelopment that reduces overall market units while increasing the number of affordable apartments and lowers anticipated city exposure for parking costs.
Planning staff described the amended proposal as a 135‑unit project, about 125 of which would be designated affordable, with a public parking garage of roughly 454 spaces. That contrasts with the existing MBA, which…
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