A memo from Housing Director Mandy DeMayo spells out for Council the findings of Economic & Planning Systems Inc. in its analysis of how the city can adjust levels of affordable housing, subsidies and density to bring different kinds of mixed use to the parcels located at 1215 Red River St. and 606 E. 12th St.
The market-rate portion of the hybrid scenario is projected to generate $51 million in net revenue, which the city could use to fund another 267 affordable housing units elsewhere in the city.
The 'downtown density bonus' scenario maximizes entitlements from fee-in-lieu considerations, with more than $300 million in revenue generated from purely market-rate housing.
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