jonathan thorpe, gale international - songdo, future city v1.0

Future City Version 1.0

Jonathan Thorpe SEVP, Gale International, LLC E-Mail: jthorpe@galeintl.com

Imagine a city…

Office Space 40 M SF

Residential 35 M SF

Retail 10 M SF

Hotel 5 M SF

Civic Space 10 M SF

MASTER PLAN

• $35 B, 100 M SF development

• World-class international city

• 1,500 acres; reclaimed waterfront

• 40% open space including a 100-acre central park

• LEED-ND pilot program

Strategic Access to Bridges & Roads

Integration with Subway System

Hub of Northeast Asia– Flight Times

Korean Government Commitments

• Free Economic Zone (FEZ)

• US $10B in infrastructure

including Incheon International

Airport (ICN)

• Incheon Airport Bridge

• Utilities, including “green”

compliant water and sewer

systems, advanced IT

• Roads

• Subways

Incheon Airport Bridge

• Completion: October 2009

• 12.3 km/ 7 mile bridge

• 15 minute drive between

Songdo IBD and ICN

Songdo IBD Land 2004

Songdo IBD 2008

Songdo IBD - 2009

Songdo IBD Master Plan

Master Plan: City of Synergy

• “Location, Location,

Location” – we are creating

the location

• Government develops

the infrastructure

• Developer creates

quality of life

• Proper location and design

create real value

• Eco-friendly becomes

tipping point

Education

Retail

Residential

Entertainment

Culture

Commerce

Create the Location– “Quality of Life”

Golf Course & Community Hotels Ecotarium/Aquarium

Residences Asia Trade Tower International Schools

Offices Cultural Center Pocket Parks

Bridge to Incheon Airport International Hospital Convention Center

1 5 9

2 6 10

3 7 11

4 8 12

1

2

2

3

3

55

6

7

9

10

11

12

4

8

10

• GFA

1.6 M SF

• Project Cost

$550 M USD

• Scheduled Completion

November 2010

• General Contractors:

Daewoo /POSCO E&C

• Architects

KPF

Heerim

Office: Northeast Asia Trade Tower

• GFA

1.1 M SF

• Project Cost

$360 M USD

• Scheduled Completion

June 2010

• General Contractor:

POSCO E&C

• Architects

Nikken Sekkei

Gansam

Office: Posco E&C Headquarters

Retail – Riverstone Mall

• GFA

1.5 M SF (1.2 M SF GLA)

• Project Cost

$600 M USD

• Scheduled Completion

June 2011

• General Contractor

POSCO E&C

• Architects

Daniel Libeskind

BKBC

BAUM

Residential – First World

• GFA4.0 M SF(2,700 D.U. in 3.7 M SFplus0.3 M SF Retail/Services)

• CompletionFebruary 2009

• Project Cost$1,100 M USD

• General ContractorPOSCO E&C

• ArchitectsKPFBAUM

Mixed Use/Residential – First World

Residential – First World

• GFA1.0 M SF(445 D.U. in 0.7 M SFplus0.3 M SF Retail/Services)

• Scheduled CompletionAugust 2009

• Project Cost$240 M USD

• General ContractorPOSCO E&C

• ArchitectKPFJINA Architects

Mixed Use/Residential – Canal Walk

Residential – First World

• GFA1.5 M SF(730 D.U. in 1.3 M SFplus0.2 M SF Retail/Services)

• Scheduled CompletionNovember 2010

• Project Cost$500 M USD

• General ContractorPOSCO E&C

• ArchitectHOKDong-Il

Mixed Use/Residential – Central Park I

Hotel – Sheraton Hotel at Convensia• GFA

0.4 M SF (325 Rooms)

• Project Cost

$140 M USD

• Scheduled Completion

July 2009

• General Contractor:

Daewoo E&C

• Architects

HOK

BAUM

Heerim

Hotel – Sheraton Hotel at Convensia

• Site Area/Project Description234 Acres18-Hole Golf Course/179 Villas220 Full Golf Members

• Project Cost

$580 M USD

• Scheduled Completion

September 2010

• General Contractor

Posco E&C

• Planners/ArchitectsJack Nicklaus DesignHeerimEDS

Jack Nicklaus Golf Club of Korea

• GFA0.6 M SF (Phase I)

• Project Cost$150 M USD

• CompletionOctober 2008

• General ContractorPOSCO E&C

• ArchitectsKPFBAUM

Convensia Convention Center

Songdo International School• GFA

0.5 M SF(K-12, 2,200 students)

• Project Cost$150 M USD

• Scheduled CompletionJune 2009 (to open for2009-2010 academic year)

• General ContractorPOSCO E&C

• Planners/ArchitectsHarvard Advisory GroupKPF

Songdo International School

Central Park & Canal• Site Area

100 Acres(incl. 2,700 U/G parking spaces)

• Project Cost$230 M USD

• Scheduled CompletionAugust 2009

• General Contractor:POSCO E&C

• Planners/ArchitectsKPFTowers GoldeARUP

Songdo IBD Master Plan

Green Development Value

• Reduce operating & maintenance

costs

• Increase building value

• Leverage incentives to reduce

construction costs

• Set sustainable development

standards/create efficiencies

• Satisfy occupier/investor

eco-responsibility mandate

• Enhance brand image

Green Strategies: Value Creation

• Master planned environment

• 40% open space; 600 acres

• 100-acre Central Park

• Every block connects to public

gathering places and

walking/biking corridors

• Native or adapted species

used to minimize water use

Green Strategies: Open & Green Space

• Vegetated green roofs

reduce stormwater runoff &

mitigate heat island effect

• Central Park canals use

seawater versus fresh

• Efficient landscape design

• Water-saving irrigation

systems

• Reclaimed stormwater

• Re-use of treated greywater

Green Strategies: Water

• At or above ASHRAE standards

• Central co-generation facility;

efficient and clean energy

• Use of solar

• New technology installed

throughout the city saves energy:

– Custom AC units

– Gen2 elevators

– LED Traffic lights

– Pumps & motors

– Emission-free photovoltaic cells

Green Strategies: Energy Use

• Integration with subway system

• Expanded Incheon City bus

service

• 25 km of bicycle lanes

• Underground parking; 10% of

capacity is dedicated to fuel

efficient and carpool vehicles

• Garages designed to include

electrical vehicle charging

stations

Green Strategies: Transportation

• Target 75% construction waste

to be recycled

• Maximize sourcing of recycled

& locally produced materials

• Use of flyflash concrete on

select projects to realize 20%

Portland cement reduction

• Low-VOC materials will be

incorporated into all buildings

Green Strategies: Material Flows & RecyclingGreen Strategies: Material Flows

• Procurement & recycling

guidelines in place

• Facilities management and

maintenance contracts

mandate use of eco-friendly

products

• Smoking prohibited in public

and office spaces except for

designated areas

Green Strategies: Sustainable City OperationsGreen Strategies: City Operations

Green Development Value

• Partnership with Cisco

• First Global Center for Intelligent

Urbanisation located in Songdo

• Purpose: Use of technology

and networks to cultivate

sustainable, intelligent city

• “Green Aware”

– Power consumption

– CO2 emissions

– Water usage

Green Strategies: “Intelligent Urbanisation”

Green Development Value

• U-Life: citywide connectivity of

buildings, systems, objects and

people

• Increased value and efficiencies

for building owners

– Reduce operating costs

– Improve sustainability

– Enhance controls/responsiveness

• Improved quality of life for

residents, workers and visitors

Green Strategies: “Intelligent Urbanisation”The Fourth Utility – IT Networks

Green Development Value

“The goal is not to build

wired buildings and cities,

but to create inspirational

buildings and cities in

which technology enables

personal lifestyle choices

and corporate innovation.”

Stanley C. Gale, ChairmanGale International, LLC

Green Strategies: “Intelligent Urbanisation”The Fourth Utility – IT Networks

Green Strategies: Gale Global PartnersSongdo IBD Global Parners

RESPECT ESTABLISHED URBAN DESIGN PRECEDENTS

SUSTAINABLE DESIGN

FOCUS ON LONG-TERM ECONOMICS

EMBRACE NEW TECHNOLOGIES/INNOVATION

CONNECTIVITY & SYSTEMS INTEGRATION

PUBLIC-PRIVATE PARTNERSHIPS

FOCUS ON QUALITY

Songdo IBD Development Principles

INNOVATION & SUSTAINABLE DESIGN STRATEGIES

PUBLIC-PRIVATE PARTNERSHIPS

ECONOMIC OUTLOOK

EXECUTION – THE “SOUL” OF SONGDO IBD

Lessons Learned – Future Challenges

“Attempting a mammoth project like that (Songdo) would be a risky venture at

the best of times, let alone in the middle of Asia’s worst business slump since

the second World War. Putting it mostly in the hands of a single, largely

untested U.S. firm and financing it with recycled real estate profits sounds like

an act of lunacy. Yet this is what is happening in South Korea, and strangest

of all, it appears to be working.”

David McNeill, “Courage Essential as $40bn Korean Project Continues,”

Irish Times, May 18, 2009

“Courage Essential…”

World at the Crossroads

• 2008: 50% world population lives in

urban areas

• Asian urban population expected to

double by 2030

• Land & natural resources becoming

increasingly scarce

• Every week for the next 30 years, the

equivalent of a new 1M population city

is needed to accommodate projected

urban growth in developing countries

• Time to create a new urban model

Sources: 2007 UN Population Division

2006 World Urban Forum III

Future City Version 1.1 Meixi Lake, ChangshaHunan Province, China

G L O B A L V I S I O N .G L O B A L V I S I O N .

Introduction

Gale International is a premier, international real estate developer and investment firm

with decades of experience leading commercial, residential and mixed-use projects from

new landmark towers to city-scale development.

Gale International offices:● New York● Boston● Irvine● Seoul, South Korea● Songdo, South Korea● Changsha, China

Gale International offices:● New York● Boston● Irvine● Seoul, South Korea● Songdo, South Korea● Changsha, China

The Site Today

• 23 acres on South Boston’s

waterfront next to the city’s

financial district

• 1 million SF of land covering

20 city blocks

• Current use: 3700 parking

spaces

Master Plan

• $3.5 B development project• 6M SF on 23 acres of land

• 36% open space • World-class LEED Silver

Neighborhood – one of the largest in the U.S

Residential 2.5 M SF

Class A Office and Life Sciences 1.5 M SF

Retail 1.25 M SF

Cultural/Schools 600 K SF

Hotels 500 K SF

Massing & Program

G L O B A L V I S I O N .G L O B A L V I S I O N .

World at the Crossroads

• 2008: 51% world population lives in

urban areas

– Asia 1950: 17% Urban

– Asia 2050: 66% Urban

• Asian urban population expected to

double by 2030

• Land & natural resources becoming

increasingly scarce

• Time to create a new urban model

Source: 2007 UN Population Division

City-Scale Development Principles

RESPECT ESTABLISHED URBAN DESIGN PRECEDENTS

SUSTAINABLE DESIGN

FOCUS ON LONG-TERM ECONOMICS

EMBRACE NEW TECHNOLOGIES/INNOVATION

CONNECTIVITY & SYSTEMS INTEGRATION

PUBLIC-PRIVATE PARTNERSHIPS

FOCUS ON QUALITY

G L O B A L V I S I O N .G L O B A L V I S I O N .