Build Inc. Gains Approval To Add 156 Units To Pending Market Street Development
Developer Build Inc. has gotten the go-ahead to increase its unit count from 304 to 460 rental units in its pending One Oak development.
The site was approved for development in 2017, though Build Inc. hasn't yet started construction. It received an extension on its entitlements for two years.
Theresa Imperial, one of the commissioners who voted against the project, expressed doubts about the viability of the plan, suggesting that the developer was facing financial hurdles that were part of a larger issue with the project’s overall scope.
“This is a big project and with 300 units before, you couldn't get to that financial feasibility, and I don't think it's because of the pandemic,” Imperial said.
The new plan calls for a mixed-use development containing 100 studio units, 159 one-bedroom units and 201 two-bedroom units, according to the agenda for the hearing. The offering will also contain 112 off-street accessory parking spaces and 2,500 SF of ground-floor retail space.
The original offering would have contained 16 three-bedroom units and three four-bedroom units, which have been removed from the new plan.
Build Inc. is also hoping to build a public place and shared public right of way but will require an in-kind fee waiver, which it will seek at a later date.