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All development must comply with the standards and requirements of the underlying zone, except as modified by this overlay zone.
(a) The Planning Board may, in the course of site plan review:
1. Waive the requirements for parking setbacks and numbers of spaces where it finds that such waivers will accomplish the goals of the master plan including revitalization, enhancing the pedestrian environment and encouraging the use of transit;
2. Where recommended in the master plan, allow direct pedestrian access for all uses from the exterior of a structure in the O-M zone, and
3. Reduce building setbacks to accomplish master plan objectives.
(b) Dwellings
1. Dwellings in the overlay zone must comply with the following standards and requirements:
(A) Dwellings must be compatible with existing or planned development on the same lot or tract and be compatible with the surrounding area.
(B) Dwellings must meet the development standards of the applicable underlying zone for minimum setbacks, green area, and lot coverage. The required green area may be adjusted to assure compatibility of uses, or to provide adequate area to accommodate housing, if appropriate.
(C) Access must be provided by one or more direct driveways to a public street. The entrance must be located and appropriately lighted to assure safe access for residents, whether or not commercial uses on the same lot are in operation.
(D) The ground entry floor for a project that includes residential uses must be devoted to commercial use unless this requirement is waived by the Planning Board.
(c) Building Height
1. Within the overlay zone, building height is limited to 30 feet. However, the Board may allow a building height: (i) up to 42 feet for commercial development, and (ii) up to 50 feet to accommodate residential development if the Planning Board finds that such buildings are compatible with the neighborhood and consistent with the intent of the applicable master plan.