an urban renewal case study - msca west end redevelopment an urban renewal case study pat mascia –...

THE WEST END REDEVELOPMENT

An Urban Renewal Case Study

Pat Mascia – Duke Realty CorporationDarryle Henry – Duke Realty CorporationMark Fallon – Jeffrey R. Anderson Real Estate

Location, Location, Location

Functional Obsolescence

5219 Building

Challenges/Opportunities

• Tale of Two Cities• Soil and Demolition• Traffic/Infrastructure and Parking

BUT …

• Established Demographics• City Wanted Density

Attacking Vacancy With Destruction

But We Rescued The Sailors!

Process

• Duke Master Planning (1 year)• City Planning Process (2 years)

- AUAR- Neighborhood Meetings- City Council Study Sessions and Formal

Meetings- Weekly Meetings with City Staff

COLLABORATION!

Incentives

• City’s Hot Buttons- Fiscal Disparities Paid within District- Length of TIF District (15 years)- Unique Project

• Developer’s Hot Buttons- Timing- $$$

• Compromise- $21 MM in TIF/Parkland Dedication- City Rebuilds Park Place ($5 MM)- 20 year TIF District

Master Plan

The Offices at West End

16th Street at Park Place

Park Place Arcade

West End Boulevard

From An Airplane

Atrium

Timing

• Demolition Complete• Soil Correction Ongoing• April, 2008 – Commence Road and Utility

Infrastructure• May, 2008 – Commence Underground Parking

and Vertical Construction • 2008 – 2009 – City Rebuilds Park Place• September 15, 2009 – Retail Grand Opening

THE WEST END REDEVELOPMENT

An Urban Renewal Case Study

Pat Mascia – Duke Realty CorporationDarryle Henry – Duke Realty CorporationMark Fallon – Jeffrey R. Anderson Real Estate