Committee approves transfer of 62,528 sq ft of development rights to 400 Hibiscus
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Summary
The DAC approved TDR25‑01, transferring 62,528 square feet of development rights from three sending sites to 400 Hibiscus St.; staff found the transfer complies with Section 94‑132 and recommended approval.
The Downtown Action Committee on Nov. 12 approved DAC case TDR25‑01, a transfer of 62,528 square feet of transferable development rights to the receiving site at 400 Hibiscus Street.
Lauren Thomas of Touchstone Web Realty explained the TDR package comes from three sending properties: 627 5th Street (37,894 sq ft), 719 North Sapodilla Avenue (12,569 sq ft) and the CRA TDR bank (12,065 sq ft), totaling 62,528 square feet. Thomas said the transfer will enable future development at the 400 Hibiscus receiving site; no site plan was presented at the hearing.
Chris Kimberly, senior urban designer, told the committee the transfer complies with Section 94‑132 and recommended approval; he noted the 627 5th Street allotment had been approved for transfer previously but that prior transfer was canceled when project plans changed. The committee moved, seconded and approved the transfer as listed in the staff report.
Next steps: staff will record the transfer per the requirements in the staff report and the 400 Hibiscus receiving site will return to DAC when a site plan is submitted.