AgdaPkt 2012-07-09 - Laserfiche WebLink

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6.1.J. - Page 1 RE PO RT To the Honorable Mayor and City Council From the Cit Mana er July 9, 2012 SUBJECT Subdivision Final Map - One Marina Phase I Condo Map RECOMMENDATION Approve, by motion, the Final Map for a resubdivision from 56 to 60 condominium units and the Covenants, Conditions and Restrictions. BACKGROUND R.C. Peninsula Park, LLC owns the property located at 650 through 660 Bair Island Road, Redwood City, California. On December 17, 2007, City Council approved the Development Agreement and Precise Plan for the Peninsula Park development project. On July 20, 2010 a Vesting Tentative Map was approved by Planning Commission for a multi-family residential development that will include 231 townhome (condominium) housing units, 10,000 square feet of retail space, and a 200-room hotel. A 4-lot subdivision was approved on June 13, 2011 to allow construction phasing and a configuration wherein the proposed hotel was committed to a unique parcel and the other three parcels would be configured for future residential subdivision. On September 12, 2011, a Final Map was approved by Council for the second of the original 4 parcels that was being re-subdivided into 56 condominium units and submitted to both the City and the State's Department of Real Estate for approval. ANALYSIS The Owner is requesting to re-subdivide the approved Final Map from 56 condominium units to 60 condominium units. The Owners' surveyor has completed the Final Map in accord with the Subdivision Map Act, Redwood City Ordinances, and to the satisfaction of the City's Engineering Division. Covenants, Conditions and Restrictions (CC&R's) have also been submitted by the developer and to the satisfaction of the City Attorney's office. The requested map modification is to accommodate a change in project building type for this first phase of the project. This change is needed to address the current market demands for unit type and design the Owner is experiencing. It is important that the product meet the market expectations, so this action should benefit the overall development of the project.