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Session 1105, ~inutes June 16, 1975 Page 4 PUBLIC HEARING - CONDITIO~AL USE PErdIIT - Iic~i~IGHT COi~Ai~Y: As it was now 8 o'clock P.~L, ~ayor Kaufman opened the public hearing con- cerning an application for a Conditional Use Permit submitted by the l~- Ymight Company to erect an apartment building for the elderly and handi- capped on ~Knight Road at the south city limits. City l~mnager Henry brief- ly reviewed the background, and said that the City Plan Commission has recom- mended approval, subject to a number of conditions. ~yor Kaufman invited the applicant, I~. Terence ~cCormack, to make a pre- sentation. ~. ~[cCormack, president of the ~Knight Company, introduced l~r. Richard Henmi, Senior Partner of the Architectural and Planning firm of Henmi, Zobel, Fort. He said the l~cI~ight Company proposes to design, con- truct and manage a building designed for the elderly and handicapped specifi- cally, of approximately 105 units, on a site that is currently owned by the Mc~Inight Company, located generally between l~clinight Road, the Innerbelt 725 immediately north of the Ladue city line. He said on ~y 28th they appeared before the City Plan Commission pursuant to their application for a Condition- al Use Permit. He said that 'both he and lit. H~nmi have had considerable experience in this type of development, and he mentioned six projects that they have been involved in, in the St. Louis area. Mr. ~cCormack said that their own market analysis in University City, reveals that existing housing for the elderly in University City has waiting lists of somewhere between 200 and 500 for the existinE spaces. He said the value of the project they propose of 108 units would be in the neighborhood of $3 1/4 million. The rent levels they are projecting is $300 for one bedroom and $350 for two bedroom units. He said they are projecting paying market rate t~es. In response to inquiry by ~yor Kaufman whether he has the financing commitments on this project, 1.~r. ~fcCormack answered that he does not, adding that he would hope to be able to finance it conventionally, but until they obtain approval of the Conditional Use Permit, it would be basic- ally academic. Answering a question posed by Councilman t~eissenburger, ~r. I~Cormack said if things worked out according to his schedule, he would hope to start con- struction within a year. ~o ~Cormack introduced I~. Richard ltenmi who displayed drawings and site plan along with elevations. He explained that 40 parking spaces will be provided, 20 of which will be covered. The building is to be six stories tall, composed of one and two bedroom units. IIe called attention to the sub- stantial amount of green space terraced areas for outdoor recreational use. }~. IIenmi pointed out that they are not asking for any rezoning per se; they are merely requesting a Conditional Use Permit, which is required. He said if this were a standard apartment building, it would not be necessary for them to request even a Conditional Use Permit for that area. ~. Henmi said they are asking for one variation under this Conditional Use Permit: they request a setback of 20 feet from the right-of-way of ~fcKnight Rc&d. He said !~cllnight iload has a right-of-way width of 60 feet - the pave- ment is 24 feet wide approximately and it is located on the western edge of the right-of-way so there is over 20 feet of landscapable space prior to reaching the property line, so, in effect, their 20 foot setback plus an additional 20 feet gives them over 40 feet of effective green area in front of their building. He said they are asking for this variation because of the rather restrictive nature of this site which has a great number of ease- ments currently running through the property, l{e said this is due to storm