Title
Ordinance - First and Final Reading on an Ordinance Approving a Development Agreement with BV Landco LP Regarding the Development of Approximately 26.801 Acres, Being Lot 2R2, Block 47, Hillcrest Addition, According to the Plat Filed in Cabinet A, Slide 9110, and Lot 3, Block 47, Hillcrest Addition, According to the Plat Filed in Volume 388-45, Page 29, Plat Records, Tarrant County, Texas, Located at 203 South Wisteria Street and 1304 East Broad Street; Approving a Concept Plan and Phasing Plan; Providing that this Ordinance Shall Be Cumulative of All Ordinances; Providing a Savings Clause; Providing for a Penalty Clause; Providing a Severability Clause; and Providing an Effective Date
Requested Action
Approve and execute the development agreement in accordance with the provisions of the S, South Mansfield Form-based Development District.
Recommendation
That the City Council approve the agreement as presented.
Description/History
On November 14, 2022, the City Council approved a change of zoning to the S, South Mansfield Form-Based Development District for the Wisteria Project on approximately 26.801 acres located at 203 South Wisteria Street and 1304 East Broad Street. The property will be developed for live-work units (i.e., shop houses), multi-family residential, office, retail, and civic uses.
Section 155.073(D) of the S, South Mansfield Form-based Development District requires that a developer or a property owner enter into a development agreement and that the provisions of such agreement be approved by the City Council. The required development agreement must include a concept plan depicting proposed layout, proposed transect zone boundaries, proposed civic space types, proposed development intensity, and proposed building types; a phasing plan for the development; and other relevant information.
The development agreement, as presented, is consistent with the provisions set forth in Section 155.73(D) of the S, South Mansfield Form-based D...
Click here for full text