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because there are many constraints and variables, and it is difficult to please everyone. <br />He stated that they are relying on the General Plan and Specific Plan, meeting with staff <br />and holding workshops, and feels the project is solid, architecturally outstanding, and <br />meets density requirements. He requested the Commission to approve his project. <br />Commissioner Pearce inquired what the size of the parcel was where the existing house <br />is located. <br />Mr. DiDonato replied that he believed the lot is about 5,000-6,000 square feet. <br />Commissioner Pearce inquired if the total area of all the parcels was 46,000 square <br />feet. <br />Mr. DiDonato replied that he was slightly hesitant on the total square footage of the site <br />because of the parcel that is being donated back to the City. He indicated that this <br />information is outlined on the site plan. <br />Commissioner Blank stated that he asked at a workshop two or three years ago and <br />inquired what the selling prices of the houses would be assuming the project is <br />approved without any substantive modifications. <br />Mr. DiDonato replied that this is difficult to determine given the tough economy and <br />declining market but stated that the selling price would probably be in the $500,000’s. <br />He added that there are risks involved and the reason they are pushing the project <br />forward is because they are a small, local developer and he is confident that things are <br />going to get better economically. He indicated that should the economy improve by the <br />time the project comes forward and the model homes are built, they could probably sell <br />the houses for more, although he doubts this will be the case. <br />Commissioner Blank noted from the workshop minutes that Mr. DiDonato had indicated <br />then that the project would take a year to 18 months to entitle, that there are a lot of <br />economic concerns, and that he estimated the home prices may be in the $750,000 to <br />$800,000 range. <br />Mr. DiDonato stated that they did not reduce the square footages by much; however, <br />but 10 square feet on a house and where it has been reduced has helped them quite a <br />bit as far as increasing the setbacks. He explained that they must accommodate the <br />economy and what buyers will want, but they want to make money from it as well. He <br />stated that the houses are modest and reasonable at 1,600 square feet to just under <br />2,000 square feet. <br />Commissioner Blank inquired if the construction cycle is still 12 to 18 months. <br />Mr. DiDonato replied that he has been in construction for over 30 years and cannot <br />explain the cycle that they are in. He indicated that in a normal cycle, they could build <br />homes within that timeframe, but given today’s economic constraints, it is quite different. <br />PLANNING COMMISSION MINUTES, September 15, 2010 Page 13 of 23 <br /> <br />