Form-Based Economic Development

Main Street

Monte Anderson

Scott Polikov 5.11.12

Who primed the pump

How did

we build towns

Who primes the pump

The system’s not working -- opportunity?

The evolution of roads and retail—

insight into reinventing main street

© Seth Harry & Assocs., Inc.

The Downtown Department Store

© Seth Harry & Assocs., Inc.

The “Bypass” Mall

© Seth Harry & Assocs., Inc.

The Regional Mall

© Kaptain Krispy Kreme

The new de facto Master Developer

Use

Operations

Form

Form

Operations

Use

PREVIOUS REAL ESTATE OFFICE

CONVERTED TO PET STORE

FORMER POST OFFICE CONVERTED

TO A CALL CENTER

PREVIOUS HVAC COMPANY CONVERTED

TO A COMMUNITY OUTREACH CENTER

FUTURE

MAIN STATION

SITE

FUTURE

RAILROAD

FLATS SITE

FORMER CITY HALL LAND

Developer partnered with city of Duncanville to build a Mixed-Use property located at the corner

of Main and Center.

22,000 SF Building

11,000 sf of RETAIL space on street level

11,000 sf of LOFT space on second level

PROJECT MAIN STATION

• $3,000,000 ESTIMATED COST

• $800,000 Eco. Devp. Corp. Land & Cash

• $400,000 Developer’s Contribution

• $1,800,000 Loan Amount

MAIN STATION RETAIL/LOFT

MAIN STATION RETAIL/LOFT

MAIN STATION RESULTS

• No Tax Abatement Provided

• No Grants or Incentives Utilized

• EDC Retains 30% Ownership

• Developer has 70% Ownership

• Rents at Main Station almost double

compared to down the block

• Created Momentum for Main Street FBC

Building on the vision

Assessed Built

Environment

The Main Street Committee met

regularly, providing input…

the consultant team also met

regularly with local businesses.

Community

Process

Parking Analysis

Parking Type Existing Proposed

Restricted 8 8

Shared 117 141

On-Street 38 21

TOTAL 163 170

Three types of parking spaces where

identified: restricted parking lots (not

shared), shared parking lots, and on-

street parking.

Predicted Level of Service

Existing

Santa Fe

Through

Santa Fe

Begins at

Center

Santa Fe

Curves into

Main

Main/Center/Santa Fe C C C C

Davis/Main A A A A

Intersection Capacity (Main @ Center St.)

Illustrative Main Street Master Plan

and new Main Street Section

Master plan, regulating plan and downtown form-based code

Mixed use block

on slip lane

5-Year Phasing

Phase 1 Phase 2 Phase 3 Phase 4 New retail in mixed use (sqf) 36,000 51,250 230,250 46,500 New retail in live/work (sqf) 23,400 14,400 0 0 Town homes (units) 109 0 0 0 Live/work (units) 39 20 0 0 Office (sqf) 28,625 25,625 111,875 15,125 New lofts (units) 115 96 132 65

Fiscal Impact

Existing Value: $48,206,147

Property Value

Property Tax Revenue

Retail Sales

Sales Tax Revenue

Total Tax Revenue

Existing + Phase 1 $101,484,897 $370,820 $11,880,000 $237,600 $608,420

Existing + Phase 1-2 $132,156,147 $584,292 $25,010,000 $500,200 $1,084,492

Existing + Phase 1-3 $200,634,897 $1,060,904 $71,060,000 $1,421,200 $2,482,104

Existing + Phase 1-4 $218,328,647 $1,184,053 $80,360,000 $1,607,200 $2,791,253

• The initiative offers the potential of four times current property tax base, with total additional revenue impact approaching $3 million per year at buildout

MAIN STREET RECONSTRUCTION

• Initial 3 Block reconstruction

• Based on Form-Based Code Street Section

• Received $1.5M NCTCOG Grant for sustainable

community approach

• City provided 20% match (no brainer)

• Developer must redevelop two sites

original conditions – northbound lane

BEFORE AFTER

BEFORE

AFTER

Immediate

community

cohesion

AT SAME TIME, CITY CONVERTS COURT BUILDING

INTO A COMMUNITY THEATRE

SETTING UP TOD

Ready for extension of DART rail

and value capture to facilitate transit

Developer agrees to redevelop two sites

as part of $1.5M NCTCOG grant to

reconstruct Main Street:

• 212 N. Main Street

• 111 E. Davis Street

NCTCOG REQUIRES DEVELOPMENT

212 N. MAIN

PROJECT DETAILS

– Planned Three Story Mixed Use

• (7) Residential Units

• (2) Small Retail Spaces

– $30,000 Value on Tax Roll Today

– Value upon completion $1.1 Million

– $291,000 Down Payment Incentive

– Equates to 92 Units Per Acre

111 E. Davis

PROJECT DETAILS

• Planned Two Story Studio/Loft

– (2) Studio/Loft Spaces (Co-op)

– (2) Retail Spaces

• $100,000 Value on Tax Roll Today

• Value Upon Completion $700,000

• $200,000 Down Payment Incentive

• UNDER CONSTRUCTION

PROJECT RAILROAD FLATS

• City obtains NCTCOG Grant for public improvements around RR Flats

• City contributed land and “soft costs”

• Developer contributed financing

RR FLATS SITE

Main

Street

MAIN STATION RAILROAD FLATS – Phase 1

REPURPOSED PREVIOUS CHURCH

INTO A RETAIL/OFFICE USE

INCREMENTAL RETAIL

Midlothian, Texas

INCREMENTAL RETAIL

Roanoke, Texas

2004

Today

FBC lessons learned (ongoing calibration)

• Adaptive reuse requires special approach (e.g. verandas)

• Facilitate minor modifications for first floor heights

• Facilitate modifications to sidewalks to preserve parking

• Inside renovations only (incremental change)

Summary of Strategy

• Developer catalyst project seeds momentum

• FBC “Main Street” initiative about economics, not just aesthetics

• Code maintains de facto “master developer” momentum

• Set up competitive advantage for Regional Transportation $$$

• City’s role = great streets and buy down cost of development

• Open source for multiple developers

www.gatewayplanning.com

www.montewanderson.com