The site would be located at 220 Waldo Street and extends into the mid-block area created by Waldo Street, Walker Street and East Park Street. The property is approximately 110 feet east of Walker Street, approximately 250 feet northeast of the intersection of East Park Street and Waldo. The site would be accessed via Waldo Street with an additional exit along Walker Street. The plans propose 21 townhome units on 2.53 acres. The buildings will be constructed of either vinyl siding with shutters or brick and asphalt shingled roof system.

The proposed density is 8.3 units per acre. The maximum density allowed is 8 units per acre. The property is zoned Downtown Residential (DR), is in the Core Neighborhood Overlay District and is inside Cary’s town limits. According to Section 10.6.3 of the Cary zoning code, the maximum density permitted in the DR district (8 units per acre) may be increased to no more than 16 units per acre; however, major special use approval from the Town Council would be required.

Jeff Fike Builders will build twenty-one (21) townhouses, both 2- and 3-bedroom models, ranging in price from $101,350 - $118,500. Mr. Fike has purchased a one-third acre site at 220 Waldo Street and will demolish the existing house to facilitate a sewer connection, traffic flow, and five additional units (originally sixteen units were to have been built). The builder is being provided up to $100,000 in development fee deferrals and assistance with site planning and sidewalks from the Town of Cary. Total Town assistance: $147,000 ($7,000 per unit). Wake County also has approved $150,000 in assistance to this project. A three-party contract (Town of Cary, Wake County, Fike Builders) was executed April 2001. The contract includes the maximum sales prices and a provision by which Fike Builders will need to pay the Town of Cary 1/21 of $100,000 (or $4,761.90) for each unit that did not result in moderate-income occupancy or the agreed-upon sales price.

Jim Parajon Phone: 469-4029

In order to provide 21 townhome units on the subject property, the applicant is requesting the following reductions from Town standards:

• To reduce the 18’ rear yard setback for three units approximately 14’;
• To reduce the 6’ side yard setback to 3.4’ for unit 14;
• To reduce the 24’ front setback to 21.8’ for unit 20;
• To allow parking in the front yards that exceed 25% of the lot width; and,
• To promote a more single-family look to townhome projects, the Core Neighborhood Overlay District encourages some of the main entrances to individual dwellings be placed on the sides of the proposed buildings. The plans propose dwelling units with main entrances at the front of each dwelling unit.

It should be noted that a major special use application has been received to allow the applicant to increase the allowable density from 8 units per acre to 8.3 units per acre. The Town Council will take action on the major special use request.

• The reductions will allow for 2-3 additional affordable housing units, which further the goals of the Affordable Housing Plan.
• The dimensional standards being reduced are likely to be modified as part of the Unified Development Ordinance update currently being undertaken by the Town. The reason for the modification of the dimensional standards is to reflect the downtown character being promoted as part of the Town Center Area Plan.
• The reductions allow for a site layout that provides protection for several large hardwood trees.

Sanitary Sewer: The plan proposes connection to an existing public sanitary sewer line within Waldo Street right-of-way.

2.  Recommended that a sidewalk connection be provided from this property south to the existing triplex development. (Sidewalk connection is provided.)