FAQs: Frequently Asked Questions
How Does The Proposal Change the Plan?
The proposed new TIF Plan and changes to the Redevelopment Agreement for Project Area 2 (South) only modifies the South Phase of the Project – everything else about the overall project (the clubhouse, tennis courts, pools, 91 residential units and 20,152 square feet of retail from the Club Phase and the North Phase) is unaffected by this proposed new plan.
The Site Plan for the South Phase has been approved by the Westwood Planning Commission and City Council. In the South Phase, there are 2 more residential units (from 242 units to 244), an additional 77 parking spaces were added to the parking garage, and the retail component has been modified slightly to accommodate the potential for a grocery store from what the approved preliminary plan included.
However, the most significant changes to the South Phase of the project revolve around costs. The developer has indicated that its projected costs have increased by $16.5M (from $20,875,000 to $37,369,179) – a 79% increase, and additionally, their costs for site work, parking and infrastructure have increased by approximately $3.5M (from $6,525,000 to $10M) – a 53% increase.