Shady Rest is a Catalyst for Downtown

Shady Rest is a Catalyst for Downtown 2017-01-24T15:38:58+00:00

SHADY REST IS A CATALYST FOR DOWNTOWN & MAIN STREET


Due to the growing local tourism market, the impacts of nightly rentals, and the long standing need for additional affordable workforce housing, MLH seeks to better understand the feasibility of the Shady Rest site. The site has long been planned to fulfill a significant portion of the existing workforce housing need in the community, as well as to provide other community benefits, as described in the General Plan.

MLH contracted with the Dahlin Group architectural firm and Rural Community Assistance Corporation (RCAC) to create a concept plan and financial feasibility analysis of the Shady Rest site that is consistent with the adopted Town of Mammoth Lakes General Plan and the Shady Rest Master Plan.

FACTS:

The Shady Rest Parcel is located at 1699 Tavern Road, between Manzanita Road, Center Street, and Laurel Mountain Road.

It is about 25 acres in size, with a wetland area of roughly 4 acres.

Mammoth Lakes California Zoning

DEVELOPMENT ANALYSIS:

The development analysis for affordable workforce housing at Shady Rest utilizes the Cap and Trade Affordable Housing and Sustainable Communities (AHSC) program; a relatively new capital resource available for this type of development. This program requires an overall reduction in greenhouse gas emissions and a shift away from vehicle miles traveled (VMTs) through the encouragement of transportation mode shifting behaviors such as walking, biking, and public transit.

This concept plan creates a livable workforce neighborhood with a mix of 114 multifamily apartments and 78 single family and townhome style cottages. This equates to an average net density of 18 units per acre. Given the State Density Bonus law, the proposed density in this concept plan is consistent with the current approved planning for the Shady Rest site while also allowing for competitive densities required under the Cap and Trade AHSC program.

DEVELOPMENT OPPORTUNITY/PHASE ONE of the proposed concept consists of 42 affordable workforce apartments, the multiuse trail system throughout the entire site, a playground, a 5,000 square foot neighborhood center including approximately 1,500 square feet for child care (to help alleviate the lack of infant care and Head-Start facility space in the community), an amphitheater, the backbone street that connects Tavern Road to Chaparral, and utilities.

 
FINANCIAL FEASIBILITY

By taking advantage of the AHSC program and other grant funding sources, approximately only 6% of the total development cost is projected to be needed from local sources. Local capital such as the Measure 2002A workforce housing funds or Housing Mitigation Fees should be considered as resources for this need.

Now is the most feasible time to create an affordable workforce housing community at Shady Rest utilizing the new AHSC program, with its rural set-aside, under Cap and Trade.