2010-06-14 Meeting Report (Town Square Residential)SPIN MEETING REPORT
CASE NO. ZA10 -037
PROJECT NAME: Southlake Town Square Block 3 Residences
SPIN DISTRICT: SPIN 8
MEETING DATE: June 14, 2010 6:00 PM
MEETING LOCATION: 1400 MAIN STREET, SOUTHLAKE, TEXAS
MEETING ROOMS 3A 3B
TOTAL ATTENDANCE: Sixty -three (63)
SPIN REPRESENTATIVE(S) PRESENT: John Logan #8 alternate), Vic Awtry #7),
Ron Evans #10), Ray Tremain #9)
APPLICANT(S) PRESENTING: Frank Bliss, Cooper Stebbins; et al (5)
STAFF PRESENT: Lorrie Fletcher, Planner I
STAFF CONTACT: Lorrie Fletcher, (817)748 -8069; Ifletcher @ci.southlake.tx.us
EXECUTIVE SUMMARY
Property Situation
The property is located at Southlake Town Square, generally southwest of the Hilton hotel.
Development Details
Cooper Stebbins has filed applications for SUP and Site Plan Approval for up to 77 high
end "for sale" residences in Block 3, to be developed in 2 buildings at the southeast corner
of State St. and Federal Way in Southlake Town Square. Southlake Town Square is zoned
"DT" Downtown District. "DT" Zoning allows for "Residential Lofts" on an SUP (Specific Use
Permit) basis. The proposed development is consistent with the Town Square Master Plan,
and the approved Development Plan for this block. To date, Block 3 has been developed
with four buildings partially encircling the West Garage. Surface parking wraps around the
north and partial west sides of the garage, along Federal Way and State Street. The
Residences will complete the development of Block 3, effectively screening the West
Garage from pedestrian and vehicular traffic. The Residences will use a mix of private,
secured subterranean parking and individual garages along the rear of the building.
QUESTIONS CONCERNS
How many one (1) bedroom residences will you have?
o About 9 or 10
Will there be restrictions on use, as with the Brownstones?
o Yes, for sale units; selling to people who have the intention to live here. The
residences will be pre -sold.
Will you offer corporate ownership?
o No
What is your ratio for parking?
o One (1) space per bedroom
How many units will be in the first building?
o Anticipated at 42... and 35 in the second building
Has pricing been determined?
o $240 per square foot; typical residence will cost $400,000
o One (1) bedroom will cost about $250,000
o Larger residence can cost up to $650,000.
Will you be asking for more later?
o Possibly... it is a component of our master plan. We plan to develop block by
block. The development is market driven.
When all is said and done, how many residences will there be?
o I honestly can't answer that.. Block 11 is not confirmed at this time. The
development is market driven.
What is the cost comparison to the Brownstones?
The Brownstones cost $202.40 per square foot
The Lofts cost $240 per square foot
What is the projected cost of HOA fees?
o $300 to $600 per month
Will you be holding a lottery? Will Southlake residents have priority?
o Yes, Roxanne Taylor has created a survey online you could fill out at
www.lifeinthesouare.com
If one bedroom one parking space, where does the second person park?
o We have studied parking at town square extensively and we believe it will not
be a problem. The parking will work out fine due to hours of the day the
parking will be occupied by businesses and residents.
Are we ever going to get safe crossing for Southlake Boulevard?
o We would certainly support a plan.
Will the density of 77 units affect property values?
o Southlake Town Square will be an exclusive place to live and we will pre -sell
the building. This residential component should escalate property values.
How do people access the second, third, and fourth floors?
o Elevator or stairs; there will also be a central corridor
The lofts in Carillon were withdrawn. How are these different?
o I'm not sure of all the details involving that proposed development. Our
residences are presold on demand. We also offer walk ability.
When Blocks 17 and 18 develop, where does the parking go?
o There will be subterranean parking, internal garages, and design that will
alleviate any potential parking problems.
SPIN Meeting Reports are general observations of SPIN Meetings by City staff and SPIN Representatives.
The report is neither verbatim nor official meeting minutes; rather it serves to inform elected and appointed
officials, City staff, and the public of the issues and questions raised by residents and the general
responses made. Responses as summarized in this report should not be taken as guarantees by the
applicant. Interested parties are strongly encouraged to follow the case through the Planning and Zoning
Commission and final action by City Council.