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THE HILL
TUSTIN
Life is Better Up Here.
PROJECT BENEFITS
A New mixed-use housing project with Sophisticated, Coastal Lifestyle
Aesthetic with the Ideal Balance of Modern California design
Overview
THEENTITLEMENTS
This is the first project to be initiated in the City of Tustin for the
Red Hill Specific Plan. The project meets all the criteria and design
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,� � V standards approved by the City Council, thereby stimulating economic
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10 development and the revitalization of this main city gateway.
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THERE ARE NO VARIANCES OR ZONING
op, CHANGES REQUESTED.
!' -_ The project has been six years in the making. Over this time, the size and scope of
the development has been adjusted. From the original proposal of 249 units,there has
been a 45 percent reduction,to 137 units, which significantly reduces the parking needs
and traffic generated from the site. Throughout this time the applicant has worked
closely with city staff to obtain community approvals for the Specific Plan, EIR and the
�. Workforce Housing Plans associated with the project.
Local Market
HOUSING
AFFORDABILITY
There is a growing housing affordability and cost-of-living crisis in Orange
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County.California has a housing shortage exceeding 3.5 million homes.
C OCBCs Housing Scorecard reports that Orange County needs 65,000 more
homes today to meet the housing needs of the people who already live and
r ~_ work here.But Orange County has added only one new home for every 5.26
residents since 2010.
_ The project also helps the city meet its State mandated
housing requirement (RHNA), including its affordability
obligation, by providing 137 total units, of which 6 will be
targeted for affordable housing needs, as well as payment
of an in-lieu fee of $738,000 for additional affordable
t - units within the city.
living There is a need for more
g options for
Orange County residents.
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Overview
- -- THE ECONOMICS
The project will generate significant economic development and much needed revenue
for the city. According to the RSG Economic Impact Report, the city will
receive over $6 million in new one-time fees, including $2.2 million
' in park fees, $738,000 in affordable housing fees, and $1.1 million
w_ in municipal reimbursement fees. Additionally, there will be a significant
�i increase in ongoing revenues, such as retail sales tax, property tax fees and sales tax
f, generated from new Tustin residents.
The project also will generate total employment (direct and indirect) of 388
jobs. The complete RSG report is available for review.
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Overview
_ PARK IMPROVEMENTS
The project will be contributing approximately $2,200,000 in City Park Fees. This money
could be used to upgrade the amenities in the parks, planting new trees, or Senior
Center improvements nearby. Pine Tree Park and Frontier park are the two Public
Parks which are near the proposed development.
�w This Project will Provide a Benefit of
- _ ±2,200,000
in City Park Fees
Pine Tree Park,liistin