february 2017 - | dmped · boston, massachusetts boston cons. group hq luxury condos 541,000 sf...
TRANSCRIPT
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FEBRUARY 2017
2nd & H Parking Deck Transformation
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AGENDA
I. Team Background 3
II. Project Vision & Overview 6
III. Community Benefits & Retail 18
IV. Conclusion 21
V. Appendix 23
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Team Background
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
TEAM BACKGROUND
TISHMAN SPEYER (Lead Developer, Capital)
• Acquired, repositioned, developed and operated over $80.2 billion of property across the United States, Europe, Latin America, India and China
• Founded in 1978, currently 19 regional offices supported by over 100 property and project offices in 30 markets across the globe
• Delivered over 5,000 residential units, with 7,900 units in pipeline
THORON CAPITAL (CBE, Local Developer)
• Active in real estate development in Washington, D.C for over ten years
• Executed over $400 million in successful development and investment transactions
• Network of partners that includes world-class institutions, such as Georgetown University and major cities including the District of Columbia,
New Orleans, and Los Angeles
HANDEL ARCHITECTS (Architect)
• Founded on the principle that large-scale, mixed-use buildings can enrich the urban experience and be drivers of economic development
• 150+ architects, interior designers, planners, and support staff working on projects globally from offices in New York City, San Francisco, and
Hong Kong
• Internationally recognized projects include the National September 11 Memorial in New York City, and The Ritz-Carlton Hotel in D.C.
DAVIS (General Contractor)
• Provides comprehensive general contracting services, including construction management, preconstruction and design-build expertise
• Extensive residential project experience in Washington, D.C., including Waterfront station, Washington Canal Park, and West End 25
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
TS DEVELOPMENT PROJECTS
Rockefeller Center
New York, New York
Built: 1930
9 million SF office redeveloped by
Tishman Speyer in 1996 that
includes a repositioning of the
224,000 SF of retail space on the
concourse level.
Square 696
Washington, D.C
Built: 2019
Phased 820 unit residential project,
surrounded by an amenity base
that is anchored by the Ballpark
and Whole Foods.
5
Pier 4
Boston, Massachusetts
Boston Cons. Group HQ
Luxury Condos
541,000 SF luxury mixed-use
development located on the Boston
Seaport waterfront.
Lumina
San Francisco, California
Two-tower, 656-unit luxury
condominium development
overlooking San Francisco Bay.
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Project Vision
& Overview
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
Project Vision
7
Parking Deck Opportunity and Challenges
• Infill underutilized / blighted sight
• Concerns with: structural capacity, lower level ownership, vehicular access
• DMPED encourages use of nearby parcels
Cobb Park Opportunity and Challenges
• Higher value location with less structural concerns
• Limited scale for community use
• Surrounded by major thoroughfares
SOLUTION:
Leverage better located, lower risk parcel for vertical development;
Relocate park / community uses to larger site
Create dynamic, mixed-use residential community in the center of four burgeoning D.C. Neighborhoods
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
Project Overview – North Site
8
Parking Deck - North Site
Retail / Food Store 19,740 sf
Community / Event Space 3,000 sf
Arts Building 1 3,400 sf
Arts Building 2 3,400 sf
Total Enclosed Area 29,540 sf
Ground floor diagram
COMMUNITY GOALS
- Recreational/ Sports Area
- Playground and Pet Exercise / Relief Zones
- Landscaped Public Commons
- Arts Market
- Community Event Space
- Large Box Retail (i.e. grocer)
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Recreational / Sports Courts, Dog Run Area, Landscaped Area
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
Basketball Court, Dog Run Area, Landscaped Area
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Arts Market / Court
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Arts Market
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Community Event Space
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Community Event Space
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Retail Plaza
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
Public Space Case Study
16
• Rockefeller Center: Approximately 8.8 million SF, including 600,000 SF of retail across 115
retail stores and dining venues
Following acquisition, Tishman Speyer executed a retail repositioning:
• Retail: Renovated retail storefronts and upgraded tenant mix with retailers such as Blue Bottle,
Lego, Bouchon Bakery, Michael Kors and Anthropologie
• Outdoor Plazas: Pedestrianized previous roadways to establish public space and curated
event schedule to activate space and drive foot traffic
• Top of the Rock Observation Deck: Redeveloped observation deck, which now attracts
over 2.5 million visitors annually
Exterior Art Installation (Jeff Koons) Outdoor Ice Skating Rink Farmers’ Market
Channel Gardens
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
Project Overview – South Site
17
Cobb Park - South Site
Structure High-Rise (Concrete)
Stories 13
Building GSF 373,900 sf
Market Rate Units 269 units
Affordable Units 115 units (avg 60% AMI)
Retail (sf) 20,000+ sf possible
RESIDENTIAL GOALS
- Balance densification with design
- Create highly amenitized private
residential space
- Support pedestrian experience with at
grade, small bay retail
- Maximize light / air on narrow streets
- Leverage view corridors
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Community
Benefits & Retail
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
Community Benefits
19 Address the growing need for affordable housing
Support and promote local businesses
Add opportunity for artists to thrive
Contributions to local non-profits, churches and schools
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
DEVELOPMENT VISION - RETAIL STRATEGY
PARKING DECK
• “Neighborhood engagement”
• 20,000 SF
• Infill of multiple submarkets
• Price conscious
• Large block possible
COBB PARK
• “CBD engagement”
• Transition from neighborhood to commercial
• Higher price point
• Small bay oriented
COFFEE SIT DOWN RESTAURANT
LARGE BLOCK RETAILERS
COSMETICS SPECIALTY FITNESS
HIGH END SALON SPECIALTY STORES
FAST CASUAL/SMALL FORMAT RESTAURANT
20
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CONCLUSION
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
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CONCLUSION
Highlights
• Opportunity to activate an infill site that incorporates the goals of the community
• Pedestrian friendly environment with the incorporation of a new park and neighborhood serving retail
• Affordable housing to meet the needs of projected job and population growth
• Architectural design that establishes a signature gateway in the heart of the Mt. Vernon Triangle neighborhood
Why Tishman Speyer / Thoron?
• Meet and exceed DMPED and community goals
• Financial wherewithal and committed long-term funding plan
• Experience leading complex, mixed use development projects
• Maximizing community benefits
• Well rounded local project team with global expertise
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Appendix
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DESIGN & CONSTRUCTION OVERVIEW OF CAPABILITIES
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Appendix
Lidl Store Image - http://www.irishtimes.com/business/commercial-property/lidl-ups-competition-as-it-plans-to-open-60-
additional-stores-1.2160211
Affordable Housing Image - http://www.notorious-rob.com/2016/04/in-which-i-propose-an-affordable-housing-solution/
Non-Profit Image - http://www.vocationvillage.com/seattle-nonprofit/
Blind Whino Image- http://www.blindwhino.org/
ACREATIVEDC Image- http://www.fotodc.org/events/2015/11/9/instagram-strategies-for-everyone-with-a-creative-dc
Public Art Image - https://news.artnet.com/market/spring-public-art-preview-new-york-327078
Whole Foods Image - http://www.mytotalretail.com/article/whole-foods-invests-instacart/
Playground Image - http://heiwx.com/575244-playground.html