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Pete Hoffmann, Chairman <br />and Members of the County Council <br />Page 2 <br />however, strongly support the applicant's effort to provide much needed student housing and, <br />therefore, request that the County Council be flexible when considering the'affordable housing <br />requirements and fair share fees if the proposed development comes to fruition, and will be <br />limited to providing housing for students attending the University of Hawaii a[ Hilo and Hawaii <br />Community College. <br />The Commission concurs with the following Planning Director's reasons for recommending <br />favorable consideration of the change of zone: <br />The applicant is requesting a change of zone from Single-Family Residential - <br />10,000 square feet (RS-10) to Multiple-Family Residential - 1,500 square feet (RM-1.5) <br />for 4 acres of land to construct a 106-unit, 400-bed student housing facility for students <br />attending the nearby University of Hawaii at Hilo and Hawaii Community College. The <br />development, as presented by the applicant, includes the following: <br />• An approximately 461,000-squaze foot building made up of a 3-story residential <br />complex and 4-story parking structure. The building will be approximately 50 feet in <br />height. <br />• The 106 apartment units will be made up of twenty four (24) three-bedroom, three- <br />bathroom units and eighty two (82) four-bedroom, four bathroom units. <br />• Each unit will contain a full kitchen with dishwasher, refrigerator, icemaker, <br />microwave oven, garbage disposal, and dining counter; washer and dryer; and <br />furnished living areas. <br />• Common areas will include study areas, computer lab areas, a club room, fitness room <br />and game room. <br />• .Parking will be provided in a four-story parking structure containing 392 parking <br />stalls and eight (8) parking stall on the ground. <br />Each bed within a unit will be rented to a student under separate contract. The <br />applicant anticipates setting the rental rate for each bed at $975 per month computed on a <br />12-month average, for a total rate of $8,775 per academic year. However, this estimated <br />rental rate may change depending on construction and operating costs at the time of <br />project completion. Rent would include all utilities except telephone, premium cable <br />service, interne[ service, and state gross excise tax. The development is anticipated to be <br />occupied in 2011 and the construction cost, including off-site infrastructure would be <br />