PD Background Report (PL-REZ-2022-000033)

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proposes to construct the "Royal Vistas" project as a 450 -unit, multiple family residential housing project with: • 174, two- and three-bedroom 'for rent' units and a manager's unit within two- story buildings on the makai portion of the project area. • 274, two- and three-bedroom 'for sale' units, and a manager's unit, to be developed in clusters of two- and three-story buildings partially on the makai portion and the remainder on the mauka portion of the project area. • Two (2) community centers, one for the 'for rent' units and one for the 'for sale' units. Each community center will include a neighborhood park, pool, and facilities for use by residents. • Parking will be made available via on-site, paved parking lots and covered structures. • Roadways as further discussed below in the access section. • Drainage improvements are further discussed below in the flood zone/drainage section. 3. Project Phasing, Timetable, and Cost: According to the applicant, the project will be developed in two or more phases, with Phase I having a maximum of 258 units (include all the 'for rent' units and some 'for sale' units) to be constructed on no more than 42 acres within the makai portion of the subject parcels ("project site") and Phase II of the having the balance of 192 'for sale' units within the mauka portion. According to the application, should the requests be approved, the applicant intends to submit plans for plan approval review within one (1) year. There is a discrepancy within the application on the anticipated timing of development where one section indicates that Phase I is anticipated to be complete by 2024 and Phase II by 2030, however, another section indicates that only completion of Phase I (maximum 258 units) of the 450 -unit project is expected to be within ten (10) years from the date of approval of the requested amendments. The applicant addressed this discrepancy by indicating in writing that the entire project can be reasonably completed within ten (10) years of the effective date of the amendment, thus the request has changed to a ten (10) -year time extension within which to complete the entire development. Assuming there are no additional cost -related -5-