Council approves amendment to The Exchange development: corrects developer name and allows reduced apartment density

Lancaster County Council unanimously approved first reading of an ordinance that both corrects the named developer on an existing development agreement and allows a moderate modification to the residential mix for The Exchange, a roughly 30-acre mixed-use project at 8918 Charlotte Highway.

The ordinance accomplishes two items: it replaces the original developer name in the contract with C4 Exchange Land Company LLC to reflect a transfer of development rights, and it amends the agreement to allow reduced multifamily density coupled with additional townhome units. Under the existing agreement, the property was limited to a maximum of 720 lots total, with a cap of 400 multifamily units and 320 townhomes. The amendment gives the developer flexibility so that, under the proposed formula, “for every two apartment units that they take away, they will replace it with one townhome unit,” a county planner told council.

Planning staff recommended approval of the change, citing lower residential density and changing market conditions that the staff said have reduced financing appetite for multifamily projects. The transcript records that the county’s planning commission had earlier recommended denial by unanimous vote; county staff explained the amendment as a “moderate modification” that must come before council because it alters the specified cap on multifamily units.

The developer representative, Yates Dunaway, was present for questions. County staff said the total maximum number of lots (720) is not being increased and that the amendment would provide flexibility to move the project forward in the current market by shifting some planned apartment units into townhomes, including locating townhomes adjacent to other townhome areas in the project for continuity.

Council voted unanimously to approve first reading. The ordinance will return to council for subsequent readings as required.