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Page 5 of 8 <br />proposed Avalon Pleasanton development, the Developer is proposing to deed-restrict 45 of <br />the 51 units at the nearly Eaves Pleasanton apartment complex, which is currently a market- <br />rate rental property. Specifically, the proposal would: <br />• Continue to provide six (6) three-bedroom units at the newly constructed Avalon <br />Pleasanton development. Five (5) of the three-bedroom units will be provided among <br />the Garden apartments currently under construction, with one (1) three-bedroom unit to <br />be constructed in the Podium Building. <br /> <br />• Provide the remaining 45 affordable units at the Developer's existing nearby property at <br />Eaves Pleasanton with an accompanying modification to the affordability profile and <br />bedroom mix to 1) deepen the affordability of the units by deed restricting all units to 50 <br />percent and 60 percent Area Median Income (AMI) thereby increasing the number of <br />very low- and low-income units and 2) provide one-bedroom units at Eaves, in lieu of <br />studio units that would have been provided within the Avalon Pleasanton development. <br />(See Table 3 below.) <br /> <br />The proposed revisions, which are discussed and analyzed in more detail below, would <br />constitute an "alternative compliance" proposal as specified in the IZO [PMC Section <br />17.44.080(D)]. <br /> <br />Table 3: Proposed Affordable Unit Summary (Second Amendment to AHA) <br />Unit Type <br />Very Low <br />Income (50% of <br />AMI) <br />Low Income <br />(80% of AMI) <br />Median Income <br />(100% of AMI) <br />Total <br />One-Bedroom <br />(Eaves) <br />14 14 0 28 <br />Two-Bedroom <br />(Eaves) <br />8 9 0 17 <br />Three-Bedroom <br />(Avalon) <br />0 0 6 6 <br />Total 22 23 6 51 <br /> <br />Analysis <br />City staff supports the Developer's proposal to provide 45 of the required 51 affordable units at <br />Eaves Pleasanton for the following reasons. <br />• The Developer will still provide the originally proposed six (6) three-bedroom units at the <br />new Avalon Pleasanton development. This aligns with the City's current and prior <br />Housing Element and recent Amendments to the Pleasanton Inclusionary Zoning <br />Ordinance, which foster the provision of affordable three-bedroom units, providing <br />affordable rental opportunities for larger households. <br /> <br />• There will no longer be studio units, as originally planned, because there are no studio <br />units at the Eaves Pleasanton property. The originally proposed 18 studio units (528 sq <br />Page 79 of 694