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$10,500,000
Est. payment /mo
1.68 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 41101840
HOA Y/N No
Lot Size 1.680 Acres
Property Description
The State Density Bonus Law could increase the maximum allowable unit count on this site. The total lot area is ±1.722 acres. At 100 units per acre, this would yield a base density of 171 units, with 26 units (>15%) designated as very-low income, a builder would potentially receive a density bonus of +50% that would increase the yield to 258 units at 150 units per acre. The new law that went into effect this year allows for a second density bonus whereby if you were to deed restrict another 26 units as moderate-income units, a second +50% bonus would be stacked on top of the first, in effect this would equal a +100% bonus allowing for 344 maximum units on the sites at 200 units per acre. Developments at this density would not be possible in wood frame construction. An alternative would be to build the units required by the City of Concord Inclusionary Housing Ordinance. For a rental project, the City of Concord requires either 10% low income or 6% very low-income units. By building these units, the project would receive all the benefits of Density Bonus law for easing entitlement (including waivers of development standards and concessions) by providing 11 very
Location
State CA
County Contra Costa
Zoning m
Interior
Fireplace No
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
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Listed by Mark Traikoff • Christie's Intl RE Sereno