PMC Announces Alternate Proposal To Affordable Housing To Circumvent Height Restriction
After reneging on its promise to include 25 affordable housing units in its One Water Street project, PMC Property Group has submitted an alternate proposal to justify the extra 48 feet of height on its building.
Those 48 feet were only permitted by Leasing & Inspection as part of a program to incentivize the inclusion of below-market-rate housing in new projects. Without those units, PMC has submitted three other plans to gain zoning exceptions—a 5k SF retail space, a public art project and a LEED Gold-certified energy system, according to the Philadelphia Inquirer.
The retail space and art project would give the project an extra 12 feet of height each, and the new energy proposal would allow for the other 24. The approval process has just begun for the changes, and PMC has not commented on why their plan no longer includes affordable housing. [Philly]