180 UNITS ADVANCE
The Longmont Planning and Zoning Commission has unanimously approved what has been referred to as the final piece of Prospect New Town.
Prospect New Town is on a former 80-acre tree farm in south Longmont and bills itself as a place where modern and traditional “come together.”
The Planning and Zoning Commission was the final decision-maker concerning Shaheen Development’s application.
Michigan-based Shaheen intends to build 180 dwelling units and 16,288 square feet of commercial space within Prospect New Town on a 6.5-acre site south of Pike Road and west of U.S. 287.
Of the 180 units, 168 will be a mixture of one- and two-bedroom apartments and 12 will be three-bedroom duplex units.
The development will also provide 412 parking spaces.
The site was previously approved for 74 dwelling units and 80,000 square feet of commercial space in 2003, but that development never came to fruition.
“In today’s society, many people like the convenience of … having a very high quality home that’s available without having to purchase it,” Peter Shaheen, Shaheen Development vice president, said during the Planning and Zoning Commission’s Feb. 15 meeting, at which the panel gave its approval. “It’s really a lifestyle and a convenience. It’s not necessarily a decrease in quality.”
Shaheen did not disclose how much rent might be for the apartments and duplexes
However, Shaheen Development does plan to pay a fee in lieu of the city’s requirement that 12% of new residential developments be affordable to low- and moderate-income buyers.
Units rented to households at or below 50% of the area median income are considered affordable, according to the city’s website.
It isn’t clear when construction will begin and how long it will take to develop the project.
“This is the guru of new urbanism and to go back to the source, to the original vision of Prospect, that means a lot to me,” Commissioner Geri Boone said. “To have the blessing of Kiki Wallace, the original developer, means a lot to me as well.”