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<br /> Page - 2 - <br />convenient freeway access and is close to employment centers. Two locations of the mall, <br />totaling 10 acres, were designated as Mixed Use-Planned Unite Development (PUD) – a <br />designation that allows for housing at a density of up to 40 units to the acre, for a total of 400 <br />housing units. <br /> <br />Figure 1: Project Location <br /> <br />Multifamily Residential Application (PUD-136) <br />In Summer 2022, SPG submitted this PUD application for 360 rental residential units on six <br />acres of the larger 10-acre site. SPG qualifies to use the State Density Bonus Law (SDBL) <br />which requires the City to allow a 50 percent increase of the base density which is originally at <br />40 dwelling units per acre (du/ac), and with the SDBL is proposed at 60 du/ac. <br /> <br />This Project has a net proposed density of 60 du/ac which would allow SPG to construct 360 <br />rental housing units, as legally required to be permitted under SDBL. By proposing to restrict <br />58 of the units for rent to low-income households (which is 24 percent of the 240 base rental <br />housing units; and 16 percent of the total 360 units), SPG will comply with the SDBL <br />requirement that at least 24 percent of the total units to be for lower-income households <br />earning up to 80% of the Area Median Income (AMI), which is currently at $106,000 for a <br />household of four. <br /> <br />The anticipated unit mix of the entire development is as follows: <br />