Network Circle developer vows 20% affordable units, deeper affordability than city rule
Project will provide 20% of units as affordable rather than the city's 15% requirement, and the applicant said affordable rents will be targeted at 80% of area median income (AMI) rather than the 100% AMI baseline in the ordinance; plan includes 120 affordable apartments.
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Doug and the project team confirmed the development will include an affordable housing component larger than the city's requirement. "The city's ordinance requires 15% of your units at an average of 100% of AMI ... We are actually exceeding that and we are doing 20% of our units instead of the 15%," Doug said, and he added the affordable units will be set at roughly 80% of area median income, which the team said makes the units more affordable than the ordinance baseline.
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