Construct “subsidized elderly housing” which is a use permitted by Special Permit in the IR District. The project will contain 160 residential units in a new 5-story building on the 4-acre vacant site that is part of the Dunham Ridge Condominium complex. Approximately 217 parking spaces are proposed for the site. Pursuant to the use type, 80% of the units will be restricted for occupancy to households with at least one member age 55 or older; 15% of the units will be permanently restricted for occupancy by households earning 80% of AMI; and 10% of eh residences are designed for people with disabilities.