The parcel is subdivided and ZG leads development management on Phase 2, while supporting Phase 1. Phase 2 is where the density is. Getting 114 units onto the frontage means pulling the state density bonus: podium parking, unit mix, open space, and the affordable count set at twenty. Through out the entitlement process we hold the schedule against the city's review cycles. We anticipated and resolved potential comments before the plan is submitted.
Pasadena carries a regional housing allocation of 9,429 units and has zoned the Central District to absorb the bulk of it, which puts an already entitled corridor site in short supply. Lake Avenue is walkable retail with transit at both ends and a renter base that does not depend on a single employer. The two phase structure is the underwriting: one phase is approved and financeable today, the other carries the upside, and neither one is holding the other hostage.
