AN INTOWN NEIGHBORHOOD WHERE EVERY ASPECT OF LIFE OCCURS

Transcription

1 AN INTOWN NEIGHBORHOOD WHERE EVERY ASPECT OF LIFE OCCURS

2 Placemaking Goals A Form and Flavor unlike that of other Places Mixed-use Community Woven into the City Blends a Natural Setting and a Dynamic Urban Environment A New Front Door Connection to Downtown Create Strong Neighborhoods Environmentally Sustainable Development Provide Great Architecture with Variety of Housing Provide Variety of Transportation Options

3 EcoVerde - A Sustainable Community Minimize Carbon Use Utilize Life Cycling Materials Promote Sustainable Transportation and Walkability Minimize Use of Water and Energy Mitigate Storm Water Quality and Quantity

4 Neighborhoods Proposed Site Plan I-275 Warehouse Site Ex. Meat Packing Garden 16th Street Gas Plant Park EcoWalk 11th Street Galleria 1 st Ave South Ex.U-Haul Site 2 nd Ave South Ex.City Property 3 rd Ave South Ex. Graham Rogul Site MLK Street I-175

5 Galleria Neighborhood 1 st Ave South I rd Ave South MLK Street I-175

6 EcoWalk Neighborhood 1 st Ave South I rd Ave South MLK Street I-175

7 Gas Plant Park Neighborhood 1 st Ave South I rd Ave South MLK Street I-175

8 Garden Neighborhood 1 st Ave South I rd Ave South MLK Street I-175

9 Connection to DownTown

10 Phasing Plan Total GSF Retail GSF Residential Rental Units Residential For-Sale Units Office GSF Hotel Rooms Phase I 1,777, , , Phase II 2,131, ,000 1, Phase III 1,540,000 38, , Total 5,450,000 1,126,000 1, , st Ave South I-275 Phase 3 Phase 2 3 rd Ave South Phase 1 MLK Street I-175

11 Destination Retail as Catalyst Immediate Need for Significant Retail on Site Best Location for a Regional Draw in Southern Pinellas County Retail Program establishes Critical Mass Creates a Regional Retail/ Entertainment Center A Draw to bring Residents and Tourists to both Intown and Downtown St. Petersburg

12 Destination Retail as Catalyst Public-Private Partnership with the City of Emeryville New Urban Neighborhood Created on former Brownfield Site Bay Area s First Retail Center to be Certified as a Green Business Bay Street- Emeryville, CA Key tenants include: AMC Theater Apple Computer Barnes & Noble Banana Republic Cache H&M J.Jill Sephora Old Navy Pottery Barn Steve Madden Williams Sonoma

13 Economic Impacts of EcoVerde ESTIMATED REVENUES $11M to $14M Annual Revenues to the City $396M to $513M Total Revenues over 30 years $ 788M to $1.06B Incremental Increase in Taxable Real Property ESTIMATED JOBS 11,500 to 12,200 Full-time and Permanent Jobs Range is a result of differences in assessed values versus estimated costs. Based on analysis prepared by MuniCap, Inc

14 Financial Structure- Partnership with the City Participating Ground Lease Unsubordinated Annual Base Rent Minimum Annual Base Rent $1M at Start of Phase I $2M at Start of Phase III City Participation in Cash Flow of the Project

15 Delivering the Vision Team Experienced in Creating Great Mixed-Use Places Market-based Program to Meet Demand Financial Resources to Make Vision a Reality Five-Seven Centrum Anaheim, CA Financial Partnership Favorable to the City Commitment to Work with the Community Achieve Sustainable Goals Development Program with the Density to Create a True Urban Place

16 the Team That Will Create A Form and Flavor unlike that of other Places John Nolen, 1923

17 1 st Ave South 1 st Ave South Ex.U-Haul 2 nd Ave Site South 2 nd Ave South Ex.City Property 3 rd Ave South 3 rd Ave South 16th 16th Street Street 11th 11th Street Street MLK MLK Street Street Vision Site Plan Warehouse Site I-175 I-175 I-275 I-275 Ex. Meat Packing Ex. Graham Rogul Site