0803 LVS Presentation Web

8/6/2019 0803 LVS Presentation Web

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CommunityPresentationCommunityPresentationJune7June7thth,2011,2011


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ClarendonParkImprovementsClarendonParkImprovements

ParkingImprovementsParkingImprovements

NeighborhoodGrowthNeighborhoodGrowth

JobCreationJobCreation

OtherGeneralCommunityBenefitsOtherGeneralCommunityBenefits

CommunityBenefitsCommunityBenefits


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ClarendonParkImprovementsClarendonParkImprovementsNewandimprovedreNewandimprovedregrading/surfacingofoutdoorgrading/surfacingofoutdoor

playingfieldsplayingfields

AdditionoflightingfornightgamesAdditionoflightingfornightgames

Tenniscourt(s)Tenniscourt(s)

TrackandFieldareaTrackandFieldarea



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ParkingImprovementsParkingImprovementsNewparkingfacilitywithaminimumof125parkingNewparkingfacilitywithaminimumof125parking

spaces,availableforcommunityuseforFREEspaces,availableforcommunityuseforFREE

overnightparkingovernightparking

UntilthedevelopmentoftheparceloflandontheUntilthedevelopmentoftheparceloflandonthe

northsideofnorthsideofAgatiteAgatite,theoriginalparkinglotwill,theoriginalparkinglotwill

continuetobeavailableforcommunityparkingcontinuetobeavailableforcommunityparking



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NeighborhoodGrowthNeighborhoodGrowthIsexpectedtogenerateapproximately$350,000Isexpectedtogenerateapproximately$350,000$450,000inannualCitysalestaxandutilitytax$450,000inannualCitysalestaxandutilitytaxrevenuerevenue

IncreasedfoottrafficandresidentstocreateIncreasedfoottrafficandresidentstocreateImprovedsafetyinthe23rdDistrictImprovedsafetyinthe23rdDistrict

WillstimulateprivateinvestmentWillstimulateprivateinvestment

WillencourageproductiveuseofunderutilizedandWillencourageproductiveuseofunderutilizedandvacantNONTAXED propertyvacantNONTAXED property



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JobCreationJobCreationThedevelopmentwillcreateapproximately1,500fullThedevelopmentwillcreateapproximately1,500full

timeconstructionjobstimeconstructionjobs

Uponcompletion,willprovideforapproximately140Uponcompletion,willprovideforapproximately140

fullfulltimeretailpositionstimeretailpositions

WillencouragefurtherneighborhooddevelopmentWillencouragefurtherneighborhooddevelopmentwhich,inturn,willcreatemorepotentialjobwhich,inturn,willcreatemorepotentialjob

opportunitiesforcommunitymembersopportunitiesforcommunitymembers



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OtherCommunityBenefitsOtherCommunityBenefits

PlannednewfullsizegrocerystorePlannednewfullsizegrocerystoreNewfullsizehealthclubplannedNewfullsizehealthclubplanned

NewrestaurantsandotherentertainmentandretailNewrestaurantsandotherentertainmentandretailopportunitiesopportunities

PlansforPlansforigoigo carsharing/ZipCarorothershorttermcarsharing/ZipCarorothershorttermcarrentalcarrental

PlansforelectriccarportsandhookPlansforelectriccarportsandhookupsups

GrandandarchitecturallysignificantgatewayGrandandarchitecturallysignificantgateway

developmentNewandimprovedstreetlandscapingdevelopmentNewandimprovedstreetlandscapingatprojectperimeteratprojectperimeter

StreetandtrafficlightimprovementsfundedbyStreetandtrafficlightimprovementsfundedbydeveloperdeveloper



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TotalProjectCostofapproximately$350millionforallTotalProjectCostofapproximately$350millionforallPhasesPhases

PhaseI:NWCMontroseandClarendon:MainPhaseI:NWCMontroseandClarendon:MainDevelopmentSiteDevelopmentSite

120,000sq.ft.retail120,000sq.ft.retail

AnchorTenants:FullSizeGrocer&FullServiceAnchorTenants:FullSizeGrocer&FullService

Health

Club

Health

Club

ParkingtosupportRetailParkingtosupportRetail

125Freeovernightspacesforcommunity125Freeovernightspacesforcommunity

PhaseII:NECMontroseandClarendon:EasternPhaseII:NECMontroseandClarendon:Eastern

DevelopmentSiteDevelopmentSite150luxuryresidentialunits150luxuryresidentialunits

BuildingHeight:230BuildingHeight:230

20,000

sq.

ft.

retail

space20,000

sq.

ft.

retail

spaceParkingParking

ProgramOverviewProgramOverview


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PhaseIII:NWCMontroseandClarendon:MainPhaseIII:NWCMontroseandClarendon:MainDevelopmentSiteDevelopmentSite

248residentialunits248residentialunits


ParkingParking

PhaseIV:NWCMontroseandClarendon:MainPhaseIV:NWCMontroseandClarendon:Main

DevelopmentSiteDevelopmentSite402Residentialandhotelunits402Residentialandhotelunits


ParkingParking

PhaseV:NWCofClarendonandPhaseV:NWCofClarendonandAgatiteAgatite:Northern:NorthernDevelopmentsiteDevelopmentsite

100residentialunits100residentialunits

BuildingHeight:140BuildingHeight:140ParkinParkin



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SpecificCommunityConcernsSpecificCommunityConcernsAddressedAddressed

TrafficTraffic

LoadingLoading

TowerDesignTowerDesign

SetbacksSetbacks

AgatiteAgatite StreetscapeStreetscape

DensityDensity


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TrafficTraffic

ProfessionalStudyConductedinAccordancewithCDOTProfessionalStudyConductedinAccordancewithCDOTstandardsandspecificdirectionstandardsandspecificdirection

StudyareaandtimeperiodsweredeterminedbasedonStudyareaandtimeperiodsweredeterminedbasedondirectionfromCDOTdirectionfromCDOT

StudyAreaincludes11intersectionsStudyAreaincludes11intersections

Analyzedweekdaymorning,eveningandSaturdaymiddayAnalyzedweekdaymorning,eveningandSaturdaymiddaypeakhoursinlateJuneonclearandsunnydayspeakhoursinlateJuneonclearandsunnydays

StudycontemplatedexistingtrafficwithWilsonYardandStudycontemplatedexistingtrafficwithWilsonYardandfutureconditionsfutureconditions

StudywasconductedwithouroldhigherdensityplanStudywasconductedwithouroldhigherdensityplanStudyshowedthatexistinglevelsofservicewasgenerallyStudyshowedthatexistinglevelsofservicewasgenerallymaintainedmaintained


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TrafficStudyAreaTrafficStudyArea

1.1. MarineDr/LSDSBRampandMontroseMarineDr/LSDSBRampandMontrose2.2. ClarendonandMontroseClarendonandMontrose

3.3. HazelandMontroseHazelandMontrose

4.4. SheridanandMontroseSheridanandMontrose

5.5. BroadwayandMontroseBroadwayandMontrose6.6. SheridanandBroadwaySheridanandBroadway

7.7. SheridanandWilsonSheridanandWilson

8.8. ClarendonandWilsonClarendonandWilson

9.9. BuenaandClarendonBuena

and

Clarendon10.10. AgatiteAgatite andClarendonandClarendon

11.11. SunnysideandClarendonSunnysideandClarendon


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PlannedTrafficImprovementsPlannedTrafficImprovements

IntersectionatClarendonandMontroseIntersectionatClarendonandMontrose Stripeleftturnlaneswith50Stripeleftturnlaneswith50 ofstorageatallfourofstorageatallfour

intersectionsintersections

Signal

will

be

modified

to

include

Signal

will

be

modified

to

include

protected/permissiveleftturnphasingprotected/permissiveleftturnphasing

ClarendonAvenuewillbeprovidedwithacenterClarendonAvenuewillbeprovidedwithacenter

turnlaneforleftturnsintothedevelopmentturnlaneforleftturnsintothedevelopment

MarineDrive/LSDonrampatMontroseMarineDrive/LSDonrampatMontrose

ModifySignaltimingsModifySignaltimings

ExtendwestboundleftturnlaneviastripingExtendwestboundleftturnlaneviastriping

CreateeastboundrightturnlaneCreateeastboundrightturnlane


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LoadingLoading Alley no longer connects toAlley no longer connects to AgatiteAgatite

Cars/Delivery trucks no longer exit ontoCars/Delivery trucks no longer exit onto AgatiteAgatite

Western Alley widened to 30+Western Alley widened to 30+ to accommodateto accommodate

loading and access to existing garagesloading and access to existing garages

Current

Alley

is

officially

16Current

Alley

is

officially

16 widewideOriginalplanincreasedthewidthto20Originalplanincreasedthewidthto20 widewide

Currentplanincreasesthewidthto30Currentplanincreasesthewidthto30 plusatmostareasplusatmostareas


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LoadingLoading


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TowerDesignandSetbacksTowerDesignandSetbacks Tower alongTower along AgatiteAgatite shortened in length from 154shortened in length from 154 to 134to 134

Tower alongTower along AgatiteAgatite reduced so it does not extend in frontreduced so it does not extend in frontof existing residential buildingsof existing residential buildings

Setbacks increased at the project perimeterSetbacks increased at the project perimeter

ThetowershavebeendesignedwithupperlevelsetbackssotheyThetowershavebeendesignedwithupperlevelsetbackssotheyarearenarrowerastheyaretallerinheightnarrowerastheyaretallerinheight

SetbackonMontroseincreasedtoprovideawidersidewalkSetbackonMontroseincreasedtoprovideawidersidewalk

SetbackalongwesternpropertylineincreasedSetbackalongwesternpropertylineincreased


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ThebaseofthebuildingalongThebaseofthebuildingalongAgatiteAgatite oppositetheexistingoppositetheexisting

residentialbuildingshasbeenredesignedtoalignwithresidentialbuildingshasbeenredesignedtoalignwith

adjacentcorniceheightsadjacentcorniceheights

Originaldesignallowedfor85Originaldesignallowedfor85 maxheightalongmaxheightalongAgatiteAgatite

Originaldesignhada55Originaldesignhada55 corniceheightforresidentialunitscorniceheightforresidentialunits

alongwesternportionofalongwesternportionofAgatiteAgatite

Now:Wehavereducedtheheightto38Now:Wehavereducedtheheightto38 forretailusealongforretailusealong

thewesternportionofthewesternportionofAgatiteAgatite withtiereddesignwithtiereddesign

TheTheAgatiteAgatite facadetransitionsfromcommercialtoresidentialfacadetransitionsfromcommercialtoresidentialdesignelementsandmassingdesignelementsandmassing


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DensityDensityTheoverallsizeofthedevelopmenthasbeenTheoverallsizeofthedevelopmenthasbeen

reducedsignificantlyfromtheoriginaldesignreducedsignificantlyfromtheoriginaldesign

Originalplans:1,454,825sq.ft.(Per5.0FAR)Originalplans:1,454,825sq.ft.(Per5.0FAR)

OriginalPDsubmission:1,398,680sq.ft.OriginalPDsubmission:1,398,680sq.ft.Currentdesign:1,000,000sq.ft.Currentdesign:1,000,000sq.ft.

Netreductionofapproximately454,825sq.ft.Netreductionofapproximately454,825sq.ft.

Unitcountreducedby150Unitcountreducedby150PDSubmission:850residentialunits,200hotelunitsPDSubmission:850residentialunits,200hotelunits

CurrentDesign:700residentialunits,200hotelunitsCurrentDesign:700residentialunits,200hotelunits


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SpecificCommunityConcernsSpecificCommunityConcernsAddressedAddressedTIFTIF

Theprojectarea,excepttheEasternsite,wasformerlyTheprojectarea,excepttheEasternsite,wasformerly

part

of

the

Wilson

Yard

TIF

part

of

the

Wilson

Yard

TIF

ThenewTIFdistrictislimitedtothethreeprivateThenewTIFdistrictislimitedtothethreeprivate

developmentparcelsandtheClarendonParksitearea.developmentparcelsandtheClarendonParksitearea.

Theexistingusesarecurrentlytaxexempt,plannedTheexistingusesarecurrentlytaxexempt,planned

improvementswillgeneratetaxrevenueimprovementswillgeneratetaxrevenue

TheTIFappliedforisaTheTIFappliedforisapayasyougoTIFpayasyougoTIF

ThedeveloperisresponsibleforfinancingtheThedeveloperisresponsibleforfinancingthe

constructionconstruction

TIFispaidafterconstructioncompletionTIFispaidafterconstructioncompletion

TheonlyTIFfundsavailablearefromcompletedTheonlyTIFfundsavailablearefromcompleted

phases.phases.


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TIFTIF

PhasebyPhaseTIFAllocationsPhasebyPhaseTIFAllocationsPhaseIPhaseI Approx.$9millionrepresenting13%ofestimatedApprox.$9millionrepresenting13%ofestimated

PhaseIprojectcostsPhaseIprojectcosts

PhaseIIPhaseII Approx.$8millionrepresenting17%ofestimatedApprox.$8millionrepresenting17%ofestimated

PhaseIIprojectcostsPhaseIIprojectcosts

PhaseIIIPhaseIII Approx.$7millionrepresenting11%ofestimatedApprox.$7millionrepresenting11%ofestimated

PhaseIIIprojectcostsPhaseIIIprojectcosts

PhaseIVPhaseIV Approx.$24millionrepresenting22%ofestimatedApprox.$24millionrepresenting22%ofestimated

PhaseIVprojectcostsPhaseIVprojectcosts

PhaseVPhaseV Approx.$2millionrepresenting6%ofestimatedPhaseApprox.$2millionrepresenting6%ofestimatedPhase

VprojectcostsVprojectcosts


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ClosingRemarksClosingRemarks

www.connectingclarendonpark.comwww.connectingclarendonpark.com

0803 LVS Presentation Web

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