On Tuesday during its monthly meeting, the mayor and council approved two changes in conditions to the residential development planned for the 115-acre property on the former Fiserv site. The key change allows a portion of the residential unit types to be exempt from the 55+ age restrictions.
These two changes were made due to the impact of the COVID-19 pandemic which has altered the lending environment for developers of age-restricted residential communities.
The East Jones Bridge Road development will remain an active adult targeted community with approximately two-thirds of the planned residential units remaining 55+ age restricted. The master plan has not changed. Density, unit count and product type remain the same from the original site plan which was approved by city council back in May 2018.
“We know this residential development is very important to the community,” said Mayor Mike Mason. “However, without being flexible this change on the age restrictions, it was entirely possible that the developer would not be able to secure funding. The condition changes only apply to about one third of the units which will be constructed in the first phase. The vast majority of the units will remain 55+ age-restricted.”
To ensure that the property would remain a senior-living oriented community, the city council added four additional restrictions to the development:
Community amenities should be designed to target active adults and shall not include playgrounds, basketball goals, or sports fields.
Play sets, basketball goals, temporary or above-ground pools and trampolines shall be prohibited in private yards as per the HOA by-laws and covenants.
Community pools shall not have diving boards, diving blocks or pool slides.
School buses are prohibited on all private streets within the development.
The above restrictions are in addition to the conditions set forth in the original Special Use Permit which included smaller lot sizes, houses built close to the street, and a minimum distance between buildings.
“The developer had prepared the site for construction before the pandemic,” said City Manager Brian Johnson. “It was only after the coronavirus that they came to the city asking for flexibility. The impact of COVID-19 on senior communities has caused uncertainty and unrest among the industry in terms of financing for institutional projects (such as assisted living and long-term care units) as well as the comfort of aging adults to move into an exclusive 55+ community.”
The developer will continue to market this new development as an active adult community which will address the gap in housing types identified in the city’s 2040 Comprehensive Plan.
The second change of condition allows for more flexibility as to when the independent living or assisted living/memory care facilities may be constructed. It stipulates that no more than 450 residential units shall be completed prior to construction on either one of these facilities.
Click on this link to read the two change in conditions and a site plan map for Phase 1 with examples of the detached cottage homes, townhomes and townhome lofts that will be for sale.