Concord apartment boosts affordable units, cuts parking

CONCORD – The developer of a planned downtown apartment complex more than doubled the number of affordable units so he could eliminate expensive underground parking spaces.

Originally, the seven-story, 181-unit Argent included three floors of parking with 263 spaces.

But the $55,000 to $60,000 cost to build each subterranean parking space made the project unfeasible, according to developer David Jones. To keep the rents reasonable, Jones said he had to scale back the parking garage back to two aboveground levels.

The 181-unit Argent will include a third-floor deck with a swimming pool; bicycle parking and work space. (Courtesy Argent Concord, LLC) 

By providing 20 units affordable to very low-income tenants — up from nine included in the initial plan — state law allows Jones to reduce the number of parking spots to 182, which includes 40 for guests and a handful designated for car-share service Zipcar.

The complex will be built on the 1.5-acre former Blockbuster Video site at Willow Pass Road and Port Chicago Highway.

Jones believes there will be less demand for parking at the Argent because it will be within walking distance of the downtown Concord BART station, Todos Santos Plaza and a supermarket.

He hopes to attract empty nesters and young professionals who commute by BART to jobs in Oakland and San Francisco.

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *